Monday, 18 January 2021


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The Chinese economy slows in the second quarter

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The China's annual economic growth slowed in the second quarter of 2013, representing a further sign of weakness of the second largest economy in the world. The latest figures from the National Bureau of Statistics show that growth of 7.5% during that period, two tenths less than in the first three months of the year. The figure matches the minimum growth target set by the Chinese authorities for this 2013 and involves three tenths less than the total last year, when China grew at its lowest rate in thirteen years. Despite the slowdown of the economy, analysts do not expect that Chinese authorities carry out stimulus measures in the coming months, something that is interpreted as the will of the new leaders of sacrificing tenths of GDP in the short term to ensure a sustained long-term growth. BBC World. [caption id="" align="alignnone" width="498"]Image: Image:[/caption] The world's second largest economy lost steam by the second consecutive quarter, as both industrial production and fixed asset investment declined. Bureau of Statistics of China said that the performance of the economy in the first two quarters are 'stable' and fell within an expected range. The quarterly contraction is the ninth in the last 10 financial quarters. "These figures are not surprising, adding to signs of downward pressure on the economy of China," Zhou Hao, an economist at ANZ Bank in Shanghai, told Reuters.
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