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China's economic growth slows to 7%

  • China’s growth has slowed down to 7% in the first quarter of 2015 compared to a year ago, the lowest since the 2009 global crisis.

    The rate is also lower than the October-to-December figure of 7.3%. 

    In 2014, the Chinese economy grew by 7.4%, lower than the target of 7.5%.

    The slower growth and cooling down of the country's property market could nudge the central bank into cutting rates again this year. The People’s Bank of China had cut interest rates in November and February.

    Tagged as: China, China growth, Chinese economic growth, Chinese economy, China interest rates, business news