01/20/2015, 00.00
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China, growth at 7.4%, the lowest in 24 years

by Wang Zhicheng
For Premier Li Keqiang, the country is entering a new phase of "normality". The economy is gently slowing, after fears of a violent collapse. Fixed investment falls; the property market among the most affected.

Beijing (AsiaNews) - According to the National Statistics Office, in 2014, China has had a growth of Gross Domestic Product (GDP) of 7.4%, lower than expected by the government (7.5), but above all, the lowest since 1990.

According to the Premier Li Keqiang, this shows that the country's development has entered a new phase of "normality".

Moreover, next year, the government expects an even lower growth rate of 7%.

According to experts, the results of 2014 show that China is trying to implement a "soft landing" that will help to stabilize its economy, allowing for economic reforms, with adjustments in its monetary policy.

Until last year, experts feared that the economy of the Land of the Dragon would have violently collapsed.

Positive and negative signals intersect. Last month, exports grew, but fixed investment fell to 15.7%. In 2013 it had grown by 19.6. The biggest problem is in properties: in 2014 investments in this sector grew by 10.5%; in 2013 the growth was 19.8%.

Shane Oliver, head of AMP Capital Investors strategy for investment, told Bloomberg: " The economy is motoring along just fine, not booming by Chinese standards but certainly not collapsing as many outside China seem to see".

Throughout 2014, unemployment in China has remained at around 4% (official figures).


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