China’s economy grows at one of its lowest rates on record
China's economy grew by 4.3% in the second quarter, falling short of government targets and marking one of the lowest growth rates on record. The data highlights a growing imbalance as the country relies heavily on exports while domestic consumer demand and vehicle sales continue to decline.
Why it matters
As the world's second-largest economy, China's struggle to stimulate domestic consumption poses significant risks to global trade stability and future economic growth.
Monthly car exports topped 1m for the first time in June, but Wednesday’s statistical release showed domestic vehicle sales fell by more than 16%. Monthly car exports topped 1m for the first time in June, but Wednesday’s statistical release showed domestic vehicle sales fell by more than 16%. Chinese economy China’s economy grows at one of its lowest rates on record Worse-than-expected expansion of 4.3% in three months to June comes amid concerns over lopsided economy
Prefer the Guardian on Google China has posted worse-than-expected growth figures for the three months to June as its economy expanded by just 4.3% – one of its lowest quarterly readings on record.
The rate, which came in under the government’s target of 4.5% to 5%, was one of the weakest since reporting on official quarterly GDP figures began in the early 1990s.
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