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China records worst quarter in five years

  • The Chinese economy has registered its worst quarter performance in over five years, media reports say.

    In the third quarter, the GDP expanded by 7.3% compared to last year, government data revealed.

    It will now be challenging for the government to meet its target of 7.5%. The government has indicated that a slightly slower rate would be acceptable to it.

    The country averaged a GDP growth of about 10% per year for around 30 years, but in the last couple of years there has been a slowdown.

     

    Tagged as: Chinese economy, China GDP, China growth, quarter performance, GDP, slower rate, business news