Chinese economic growth among slowest in decades, and it could fall further
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Beijing has in recent months announced its most aggressive support measures for years in a bid to reignite an economy that had suffered on multiple fronts, including a prolonged property market debt crisis and sluggish consumer spending.
But the economy grew by five percent last year, official data from Beijing's National Bureau of Statistics (NBS) on Friday showed, down from 5.2 in 2023.
The growth took place in the face of a «complicated and severe environment with increasing external pressures and internal difficulties», the NBS said.
The increase is the lowest recorded by China since 1990, excluding the financially tumultuous years of the Covid-19 pandemic.
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