China's economy grew 6.6 percent in 2018, officials say

A cargo ship of CMA CGM Group loaded with containers to be shipped abroad berths on a quay at the Port of Qingdao in Qingdao city, east China's Shandong province, 6 July 2018.[File Photo: IC]

China's gross domestic product (GDP) topped 90 trillion yuan in 2018 when the economy grew by 6.6 percent, compared to 6.8 percent a year earlier, according to the National Bureau of Statistics.

Ning Jizhe, Commissioner of National Bureau of Statistics, discussed the national economic performance for the year and released key indicators during a news conference on Monday.

The figure beat the official target of around 6.5 percent and shows that China's economic performance has been "within range," according to Ning.

China remains the biggest contributor to global growth in the midst of a world economic slowdown, Ning said.

The data also showed that China's industrial output expanded 6.2 percent year on year in 2018, slowing from 6.6 percent in 2017.

Officials of China's National Bureau of Statistics brief the media on China's economic performance in 2018 on January 21, 2019. [Photo: CGTN]

Retail sales of consumer goods grew 9 percent year on year in 2018, slowing from the 10.2-percent growth in 2017.

Per capita consumer spending increased by 6.2 percent year on year in real terms to reach 19,853 yuan (2,877 U.S. dollars) in 2018.

Fixed-asset investment grew 5.9 percent year on year in 2018, 0.5 percentage point faster than that recorded in the first three quarters.

Investment in property development grew 9.5 percent year on year in 2018, 2.5 percentage points faster than the pace in 2017.