China's economy posted a forecast-beating growth rate in the first quarter of 2017, with the gross domestic product (GDP) up 6.9 percent from a year ago, official data showed Monday.

The growth was well above the full-year target of 6.5 percent and the 6.8-percent increase registered in the fourth quarter of 2016, according to the National Bureau of Statistics.

The GDP reached 18.07 trillion yuan (2.63 trillion U.S. dollars) in the first quarter.