China's 6.9% Annual GDP Growth Worst in 25 Years - Statistics

© REUTERS / Jason LeeA customer holds a 100 Yuan note at a market in Beijing, August 12, 2015
A customer holds a 100 Yuan note at a market in Beijing, August 12, 2015 - Sputnik International
Subscribe
US
India
Global
China’s annual 2015 growth rate was the worst in 25 years at 6.9 percent of GDP against 7.3 the previous year, the National Bureau of Statistics of China data showed Tuesday.

BEIJING (Sputnik) – It specified that first and second quarter growth in 2015 amounted to 7 percent each, followed by 6.9 in the third quarter and 6.8 in the fourth.

"According to preliminary data, the Gross Domestic Product of China in 2015 was [$10.3 trillion], which is 6.9 percent more than last year."

Leaders attend the second working session at the G20 Summit in theTurkish Mediterranean resort of Antalya, on November 16, 2015 - Sputnik International
China Prepares to Build ‘Innovative, Sustainable, Tolerant Economy’

The slowdown in China is attributed to stock market volatility as the national currency, the yuan, continues to lose value against the US dollar.

Chinese President Xi Jinping signaled last November an end to the country’s annual 7 percent growth benchmark and announced a target of 6.5 percent until 2020.

Investment in China's Fixed Assets at $8.4 Trillion in 2015

President Xi Jinping of China addresses attendees during the 70th session of the United Nations General Assembly at the U.N. Headquarters in New York, September 28, 2015 - Sputnik International
China to Lend Egypt Banks $1.8Bln During Xi Visit - Egyptian Envoy to China
Investment in China’s fixed assets last year amounted to an equivalent of $8.4 trillion.

Investment into China’s mining industry increased by 31.8 percent from last year at $230 billion. Manufacturing investment totaled $3.41 trillion, while $4.76 trillion was invested in the services sector.

The data indicates that all of China's fixed assets, with the exception of rural areas, have seen 10 percent growth in investment from 2014.

The country's 6.9 percent GDP growth last year was the worst since 1990.

Retail Sales in China at $4.5Tn in 2015

The total volume of retail sales in China added up to $4.57 trillion last year.

Year-on-year, the overall retail index has grown by 10.7 percent from 2014.

Sales in urban China reached a total of $3.95 trillion last year, growing by 10.5 percent year-over-year.

In rural areas, retail sales increased by 11.8 percent to $640 billion.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала