China posts 6.9% economic growth in 2015 – but doubts remain
Official figures for the December quarter are in line with the target forecast.
Official government figures show China posted its slowest growth in a quarter century in 2015, confirming a loss of momentum in the world’s second-largest economy.
The slowing of China's economy has dampened global activity, reduced commodity prices and is behind much of the volatility in markets worldwide.
The National Bureau of Statistics says gross domestic product expanded by 6.9% year-over-year in 2015, down from the 7.3% gain reported in 2014.
The figures are in line with a median 6.9% increase forecast by 15 economists polled by the Wall Street Journal and is also inline with official target forecast of 7% annual growth.
The bureau also says China's economy expanded 6.8% year-on-year in the fourth quarter, edging down from 6.9% in the third quarter of 2015.
In the fourth quarter, China’s GDP grew 1.6% from the previous quarter on a seasonally adjusted basis, compared with 1.8% in the third quarter.
The 2015 result will probably enable policymakers in Beijing to claim that the economy has expanded in line with the official target of around 7%, helped by rate cuts and stimulus measures aimed at propping up growth.
But the figure must also be treated with some caution as western observers often question the reliability of China’s economic data.
Most of these economists believe growth has been slower, as low as 5%.
This and plunging oil and commodity prices have given global stock markets their worst start in many years.
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Nevil Gibson
Tue, 19 Jan 2016
Tue, 19 Jan 2016
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China posts 6.9% economic growth in 2015 – but doubts remain
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