Transport, hotels and catering lead China’s economic expansion
Transport, hotels and eateries spurred the first acceleration in Chinese economic growth in two years last quarter, highlighting the robust expansion of new drivers, reported Bloomberg.
Carriers, warehousing and delivery output rose 9.9% from a year earlier in the fourth quarter, the National Bureau of Statistics said January 21. Catering and the hotel sector increased 7.3% in the same period.
The nation’s economy is going through a transition that sees it depend more on service sectors than smoke-stack industries.
Gross domestic product increased 6.8% in the three months through December from a year earlier, with services accounting for 51.6% of the expansion and consumption contributing 64.6%.
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