Chinese growth slowed slightly in the second quarter as the world’s number two economy faced a snowballing trade fight with the United States. The economy expanded by 6.7 percent in April-June, down from 6.8 percent in the first quarter and in line with a 6.7
Chinese growth slowed slightly in the second quarter as the world’s number two economy faced a snowballing trade fight with the United States. The economy expanded by 6.7 percent in April-June, down from 6.8 percent in the first quarter and in line with a 6.7 percent rate tipped in an AFP survey of economists.
Despite the quarterly deceleration, growth was still higher than the annual target of around 6.5 percent set by the government.
China faced an “extremely complex environment both at home and abroad”, said Mao Shengyong, a spokesman for the national statistics bureau, noting growth remained strong.
China is facing a multi-front battle to defend its economy, fighting to cut its debt mountain while the yuan and local stock markets tumble in the face of the trade conflict.
“We should also be aware that external uncertainties are increasing and economic restructuring is in a phase of overcoming difficulties,” Mao said.
