China’s economic growth holds steady at 7 percent in second quarter

China's economy expanded by 7 percent in the second quarter, unchanged from the previous quarter but slightly better than forecast, the country's National Bureau of Statistics reported on Wednesday.

China's gross domestic product (GDP) was at 29.6 trillion yuan in the first half of the year, marking a year-on-year increase of 7 percent. "The national economy has been running within proper range and the major indicators picking up steadily, showing moderate but stable and sound momentum of development," the bureau said in its statement.

The GDP of the second quarter of 2015 went up by 1.7 percent on a quarter-on-quarter base.

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