China's third quarter GDP steady at 6.7 percent

TOKYO, Oct 19 (KUNA) - China's economy grew 6.7 percent year-on-year in the third quarter, government said Wednesday, a sign that its growth is stabilizing. The growth of gross domestic product (GDP) of the world's No. 2 economy in the July-September period was unchanged from the previous three months, according to the National Bureau of Statistics. The figure keeps China on track to achieve the government-set 2016 growth target of 6.5 to 7 percent. For the first nine months of this year, the GDP also grew 6.7 percent on the year. "China's economy grew steadily with progress made and quality improved, as a result of appropriately expanded aggregate demand, the supply-side structural reform, positive development anticipation and accelerated fostering of new drivers," bureau spokesman Sheng Laiyun told a press conference in Beijing, according to state-run Xinhua News Agency. (end) mk.ha