China is confident to have reached an economic growth of 6.7% in 2016, within a targeted range set earlier in the year, Vice Finance Minister Zhu Guangyao said on Sunday.
China’s economy expanded at a steady 6.7% in the first three quarters last year, and Zhu said he was confident the growth rate would have reached the same level or more in the fourth quarter of 2016. Zhu’s remarks were made at a forum held by Tsinghua University in Beijing.
China, which had been aiming for a 6.5-7 % economic growth for 2016, boosted government spending, saw a housing rally and record high levels of bank lending last year, which, however, also led to an explosive increase in debt.
