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International News

Jan 17, 2020
7:48PM

China's economic growth sinks to lowest level in three decades

AIR
China registered 6.1 per cent GDP last year, which is the slowest pace of growth for the country in almost three decades.

The government today said, sluggish domestic demand and the bruising 18-month trade war with the US has seriously impacted the economy.

The new GDP data released by the National Bureau of Statistics (NBS) comes a day after China and the US signed a long-awaited phase one deal. In 2018, China's economy sank to a 28-year low slowing down to 6.6 per cent, lower than the 6.8-per cent growth registered in 2017.

After signing the phase one deal, US President Donald Trump said 25 per cent tariff hike on  360 billion US Dollar worth of Chinese products would continue until the phase-2 deal is worked out. China aims to double the per capita income of its urban and rural residents from 2010 levels By 2020.
 

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