HONG KONG — China’s economy expanded by 7.5 percent in the second quarter, a slight acceleration from the first quarter, China’s National Bureau of Statistics said Wednesday.
The better-than-expected gross domestic product growth puts China on track to reach the government’s target of 7.5 percent growth for the year also gives hope that the government’s “mini-stimulus” measures are having some effect.
China’s economy showed “good momentum of stable and moderate growth. However we should keep in mind that the domestic and international economic environment is still complicated and the national economy still faces many challenges,” the bureau said in a statement.
The bureau also said that June retail sales rose 12.4 percent year on year.