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China on track to meet or beat 2017 growth target, Statistics Bureau head says

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China on track to meet or beat 2017 growth target, Statistics Bureau head says

The head of China's Statistics Bureau, Ning Jizhe, said the country is on track to hit its 2017 economic growth target of about 6.5%, and may even beat it, Reuters reported Oct. 10.

Jizhe told reporters in a briefing in Beijing that measures taken to rein in the overheated property market have been effective and will continue to be in place.

Meanwhile, China's foreign exchange reserves increased $17 billion to $3.1 trillion as of the end of September, compared with a $10.8 billion rise in August, the South China Morning Post reported Oct. 9, citing data from the People's Bank of China.

This was the eighth consecutive month that China's forex reserves rose, marking their highest level in 11 months.

China's forex reserves have increased over the last eight months after falling below $3 trillion in early 2017, SCMP noted.