China’s economic growth slowed to a record low of 6.2 per cent in the second quarter of this year. This is the weakest growth rate in nearly three decades for the world’s second-largest economy, in the midst of a trade war with the United States and weakening global demand.
Government data showed that Gross Domestic Product (GDP) growth slid from 6.4 per cent in the first quarter to 6.2 per cent. China’s GDP expanded 6.3 per cent year-on-year in the first half of 2019 to about 6.56 trillion US Dollars.
The growth, however, was in line with the government’s annual target range of 6.0-6.5 per cent for the whole year, down from the 6.6 per cent growth China put up in 2018.