A site used for the construction of oil platforms in Qingdao in China’s eastern Shandong province.
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China's economy grew faster than expected in the fourth quarter of 2017, as an export recovery helped the country post its first annual acceleration in growth in seven years, defying concerns that intensifying curbs on industry and credit would hurt expansion.China's gross domestic product grew 6.8 percent in the October to December period from a year earlier.Growth for the 2017 full year picked up to 6.9 percent year-on-year, the first annual acceleration for the economy since 2010 .The annual growth easily beat the government's 2017 target of around 6.5 percent and quickened from 6.7 percent in 2016, the weakest pace in 26 years. China's exports and imports growth slowed in December after surging in the previous month.Retail sales growth of 9.4 percent was the slowest rate since February 2006, down from 10.2 percent growth in November and badly missing forecasts.There were some positive signs in the household sector in 2017, however, with disposable income growth picking up to 7.3 percent from 6.3 percent in 2016, and final consumption playing a bigger role in driving overall growth last year versus investment than in 2016 .
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