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1st LD: China's GDP expands 7 pct in Q2

Xinhua, July 15, 2015 Adjust font size:

China's economy posted 7-percent growth year on year in the second quarter of 2015, unchanged from 7 percent in the first quarter, the National Bureau of Statistics (NBS) announced on Wednesday.

The growth rate proved more optimistic than a median market forecast of 6.9 percent for the second quarter, as authorities cited recent "positive signs" in the economy.

In the first half of the year, the gross domestic product (GDP) hit 29.7 trillion yuan (4.9 trillion U.S. dollars), up 7 percent year on year, according to NBS data.

The national economy has stayed "in the proper range" in the first half as major economic indicators gradually recovered, indicating stabilization and improvement, according to the NBS.

During the first half, industrial output grew 6.3 percent year on year and fixed-asset investment climbed 11.4 percent. Property investment grew 4.6 percent year on year, while retail sales of consumer goods rose 10.4 percent. Endi