BEIJING: China’s growth eased to 6.8 percent in the third quarter but remained higher than the government’s full-year target, providing a boon to President Xi Jinping amid a major Communist Party congress.
The official figures, released on Thursday by the National Statistics Bureau, showed economic growth has held steady as the pivotal leadership reshuffle unfolds in Beijing.
“The national economy has maintained the momentum of stable and sound development in the first three quarters, with favorable factors accumulating for the economy to maintain medium-high rate of growth,” said bureau spokesman Xing Zhihong.
The 6.8 percent figure, based on an annual comparison, followed growth of 6.9 percent in the first and second quarters of the year and was in line with forecasts from analysts surveyed by AFP.
The government has a set a target of around 6.5 percent growth in 2017.
Brisk consumer spending and strong factory output fueled economic growth for the July to September period.
The 10.3 percent rise in retail sales for September from a year earlier was welcome news for the economy, which is relying on China’s vast consumer pool to start spending as the economy transitions away from investment heavy growth.
“China’s economy has been transitioning from a phase of rapid growth to a stage of high-quality development,” Xi told an audience of 2,300 party leaders when he opened the congress on Wednesday.
China growth eases in third quarter
China growth eases in third quarter
Saudi Arabia sees 21% jump in mining sector licenses since 2016
- The growth in the Kingdom’s mining sector licenses aligns closely with Saudi Arabia’s Vision 2030 objectives, launched in 2016
RIYADH: Saudi Arabia’s mining sector has shown sustained growth, with the number of mining licenses increasing from 1,985 in 2016 to 2,401 by the end of 2024, representing cumulative growth of 21 percent, according to the 2024 mineral wealth statistics from the General Authority for Statistics.
The data highlights a steady upward trend in recent years. Licenses rose to 2,100 in 2021, marking a 6 percent increase from the previous year.
The upward trajectory continued with 2,272 licenses in 2022, 2,365 in 2023, and 2,401 in 2024, reflecting expanding exploration and investment activity across the Kingdom’s mining sector. Building material quarries accounted for the largest share of mining permits, climbing from 1,267 licenses in 2021 to 1,481 by 2024.
Exploration licenses also recorded consistent growth, supporting the Kingdom’s broader push to develop its mineral resources.
Other categories of mining activity saw significant expansion, including 2,554 exploration licenses, 744 exploitation licenses, 151 reconnaissance licenses, and 83 surplus mineral ore licenses issued during the same period.
The growth in the Kingdom’s mining sector licenses aligns closely with Saudi Arabia’s Vision 2030 objectives, launched in 2016, which aim to diversify national income sources and strengthen non-oil sectors.
