China's economic growth slowed to its weakest in nearly 30 years in 2019 am...
BEIJING - China’s economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown.
This year is crucial for the ruling Communist Party to fulfill its goal of doubling GDP and incomes in the decade to 2020, and turning China into a “moderately prosperous” nation. Policy sources have told Reuters that Beijing plans to set a lower economic growth target of around 6% this year from last year’s 6-6.5%, relying on increased infrastructure spending to ward off a sharper slowdown.China's 2019 property investment solid, but first sales drop in 5 years dents outlookOn a quarterly basis, the economy grew 1.5% in October-December, also in line with expectations and the same pace as the previous three months.
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