China’s economy grew 6.6% in 2018, its slowest pace in almost 30 years, confirming a slowdown in the world’s second largest economy that could threaten global growth. After years of breakneck expansion, official data on Monday confirmed that China’s growth in 2018 was the country’s slowest reported rate since 1990 and down from 6.8% in 2017. The 6.4% growth rate in the fourth quarter of 2018 was last seen in early 2009 at the height of the global financial crisis.
“We see that there are changes in stability, concern about these changes. The external environment is complicated and severe. The economy is facing downward pressure,” said Ning Jizhe, director of China’s National Statistic Bureau, adding that China’s economy remained “steady overall”.
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“We see that there are changes in stability, concern about these changes. The external environment is complicated and severe. The economy is facing downward pressure,” said Ning Jizhe, director of China’s National Statistic Bureau, adding that China’s economy remained “steady overall”.
