Economist: Chinese economy is switching from export driving to domestic consumption

China’s GDP grew 6.7 percent in the first quarter, slowing from 6.9 percent growth in the preceding quarter but still in line with the official target of “a range of 6.5 to 7 percent growth” for 2016.

In the first three months, major indicators showed that the economy was operating in a reasonable range. The growth of gross domestic product, urban job creation and incomes of urban and rural residents all met the targets.

An international economist said the Chinese economy is going through a difficult switching period now and it’s normal that the economy will slow.

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