国内英语资讯:Economic Watch: Chinas economy firms on quality growth, better structure_时事

国内英语资讯:Economic Watch: Chinas economy firms on quality growth, better structure

The service sector expanded 7.8 percent year on year in the first three quarters, outpacing a 3.7 percent increase in the primary industry and 6.3 percent in secondary industry.

Driven by government efforts in economic structural adjustment, the contribution of final consumption to economic growth reached 64.5 percent in the first nine months, up 2.8 percentage points from a year ago.

The high-tech and equipment manufacturing sectors posted stellar growth in the first three quarters, with output up 13.4 percent and 11.6 percent respectively.

Investment also poured into high-tech sectors. For the first nine months, high-tech manufacturing saw investment up by 18.4 percent, up from 11.7 percent during the same period in 2016.

"The progress of the economy in the first three quarters demonstrated the effect of supply-side structural reforms and, at the same time, created favorable conditions for advancing those reforms and laid solid foundation for an optimistic outlook of the final quarter and next year," Zhang said.

The IMF has raised its forecast for the fourth time this year, estimating the Chinese economy would grow at 6.8 percent this year and 6.5 percent next year, both 0.1 percentage points higher than previous predictions.

The China International Capital Corp. raised its forecast for China's 2018 real GDP growth to 6.9 percent year on year, compared with the current consensus forecast of 6.4 percent, according to a report from the company.