Percent Year

year: The figure, though the lowest quarterly rate since the global financial crisis, remained within the government targeted range of between 6.5 and 7 percent for 2016, according to Xinhua China. On a quarterly basis, the economy increased 1.8 percent from the first quarter. The country GDP grew 6.7 percent year on year in the second quarter, according to data released by the National Bureau of Statistics on Friday. GDP expanded 6.7 percent year on year in the first half of 2016 to reach 34.06 trillion yuan . The stabilization in the second quarter suggested "the infrastructure-centric stimulus strategy, supported by a mixture of monetary accommodation and fiscal expansion has had some degree of success," said Julia Wang, HSBC Greater China economist. The economic stabilization is set to continue, with major indicators operating in a reasonable zone, supply-side structural reform and economic restructuring continuing to advance, and new growth engines picking up steam, Sheng said. NBS spokesperson Sheng Laiyun said the economy still faces "relatively big downward pressure," but economic growth in the first half has laid a good foundation for the country to achieve its 2016 growth target. (news.financializer.com). As reported in the news.