China’s economy cools slightly in the third quarter

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China’s economy grew 6.8% in the third quarter – Oct. 18, 2017

Xi Jinping's rise to power

There were no nasty surprises in China’s latest economic growth figures.

The world’s second largest economy expanded 6.8% in the third quarter compared with the same period a year earlier, government data released Thursday showed.

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That number was in line with economists’ forecasts. Few analysts had expected any big surprises in Thursday’s data, since it coincided with the ruling Communist Party’s national congress, a major political event that takes place just twice a decade. The party has prioritized economic stability in the run up to the congress at which President Xi Jinping is expected to consolidate power as he begins his second five-year term.

China’s target for annual GDP growth this year is 6.5% or higher. The country was comfortably on track to achieve that goal already after posting growth of 6.9% in the first two quarters of the year.

CNNMoney (Hong Kong) First published October 18, 2017: 10:11 PM ET

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