China’s Economy Grows At Slowest Pace In 30 Years

0
Xi Jinping and Donald Trump

China’s economy grew at its slowest pace since the early 1990s in the second quarter, official figures showed.

In the three months to June, the economy grew 6.2% from a year earlier. The result was in line with forecasts.

China has moved to stimulate its economy this year by boosting spending and delivering tax cuts.

The country is also fighting a trade war with the US which has hurt businesses and weighed on growth.
The data released on Monday showed China’s economic growth rate slowed from 6.4% in the first three months of the year.

US President Donald Trump tweeted that US trade tariffs were having “a major effect” on the Chinese economy.

China’s national statistics bureau said the figures pointed to a “complex environment” both at home and abroad.

It said the economy had “performed within the reasonable range” in the first half of 2019, but that it faced “new downward pressure”.

Leave a Reply