China’s economy slows to 26-year low of 6.7%

Beijing, January 20

China’s GDP growth last year tanked to its lowest level in more than a quarter century at 6.7%, amid a scandal that a key province in the world’s second-largest economy fudged data for years and concerns over a likely trade war with the US under Trump administration.

China’s growth in 2016 was its slowest in 26 years, data released by the National Bureau of Statistics said today.

The economy slowed down from 6.9% in 2015, when it slipped below the 7% but still well within the government’s target range of 6.5-7%. Growth in the fourth quarter ending in December came in at 6.8%, a little higher from the 6.7% in the third quarter. — PTI