Chinese growth hits 30 year low at 6.1%
For the first time, per capita GDP over 10 thousand US dollars. Government investment in infrastructure and private investment in property are down; industrial production and retail sales are rising.
Beijing (AsiaNews) - In 2019, Chinese economic growth was 6.1%, falling to the lowest level in 30 years; per capita GDP, however, rose to over US10,000 dollars for the first time.
According to data released today by the National Statistics Office, the 6.1% growth is within the government's forecasts, set between 6 and 6.5%. The 2019 figure is lower than that of 2018 (6.6%).
The second world economy this year suffered from a reduction in domestic and foreign demand, exacerbated by the trade war with the United States.
There was a decrease in government investment in infrastructure, which fell from 4% to 3.8% in one year, as well as a decrease in investment in property, which fell from 10.2% to 9.9%.