China posted slowest GDP growth since 2009 in 2015
Slowdowns in industrial production, retail sales and fixed-asset investment were cited as the main reason behind slower growth in the three months ending in December.
China’s industrial output rose 5.9% on a yearly basis in December, indicating one of the weakest gains in several years. Retail sales climbed 11.1% compared with economists’ initial forecasts of 11.3% while fixed-asset investment grew 10%, the slowest pace since 2000. Economists predict that the country’s economic growth will slow to 6.5% in 2016 and 6.3% in 2017 while President Xi Jinping reportedly aims for a growth of at least 6.5% through 2020.
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