The Chinese economy expanded at an annual rate of 6.7 per cent in the third quarter of 2016, putting it firmly on track to meet the government’s full-year target of at least 6.5 per cent growth. But concerns are mounting that the rate could fall as officials try to cool an overheated property sector, a traditional motor of the country’s economy.
“The general performance was better than expected,” the National Bureau of Statistics said in a statement. However, it warned of looming economic risks.
“We must be aware that economic development is still in a critical period of transformation, with old growth drivers to be replaced by new ones,” it said. “With unstable and uncertain domestic and external factors, the foundation for continued economic growth is not solid enough.”
