China’s economic growth now at lowest level in 25 years

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>China&&num;8217&semi;s economic growth edged down to 6&period;8&percnt; in the final quarter of 2015 as trade and consumer spending weakened&comma; dragging full-year growth to its lowest in 25 years&period;<&sol;p>&NewLine;<p>Growth has fallen steadily over the past five years as the ruling Communist Party tries to steer away from a worn-out model based on investment and trade toward self-sustaining growth driven by domestic consumption and services&period;<&sol;p>&NewLine;<p>But the unexpectedly sharp decline over the past two years prompted fears of a politically dangerous spike in job losses&period;<&sol;p>&NewLine;<p>Full-year growth declined to 6&period;9&percnt;&comma; government data showed today&period;<br &sol;>&NewLine;That was the lowest since sanctions imposed on Beijing following its crackdown on the Tiananmen Square pro-democracy movement caused growth to plummet to 3&period;8&percnt; in 1990&period;<&sol;p>&NewLine;<p>The October-December growth figure was the lowest quarterly expansion since the aftermath of the global financial crisis&comma; when growth slumped to 6&period;1&percnt; in the first quarter of 2009&period;<br &sol;>&NewLine;Growth in the July-September quarter of 2009 was 6&period;9&percnt;&period;<&sol;p>&NewLine;<p>Growth in investment in factories&comma; housing and other fixed assets&comma; a key economic driver&comma; weakened to 12&percnt; in 2015&comma; down 2&period;9 percentage points from the previous year&period;<&sol;p>&NewLine;<p>Retail sales growth cooled to 10&period;6&percnt; from 2014&&num;8217&semi;s 12&percnt;&period;<br &sol;>&NewLine;&&num;8220&semi;The international situation remains complex&comma;&&num;8221&semi; said Wang Bao&&num;8217&semi;an&comma; commissioner of the National Bureau of Statistics&period;<br &sol;>&NewLine;&&num;8220&semi;Restructuring and upgrading is in an uphill stage&period; <&sol;p>&NewLine;<p>Comprehensively deepening reform is a daunting task&period;&&num;8221&semi;<br &sol;>&NewLine;Growth was in line with private sector forecasts and the ruling Communist Party&&num;8217&semi;s official target of about 7&percnt; for the year&period;<&sol;p>&NewLine;<p>Beijing responded to ebbing growth by cutting interest rates six times since November&comma; 2014&comma; and launched measures to help exporters and other industries&period;<&sol;p>&NewLine;<p>But economists note China still relies on state-led construction spending and other investment&period;<br &sol;>&NewLine;December exports shrank 1&period;4&percnt; from a year earlier&comma; well below the ruling party&&num;8217&semi;s target of 6&percnt; growth in total trade&period;<&sol;p>&NewLine;<p>For the full year&comma; exports were down 7&period;6&percnt;&comma; a blow to industries that employ millions of Chinese workers&period;<&sol;p>&NewLine;<p>Forecasters expect economic growth to decline further this year&comma; with the International Monetary Fund targeting a 6&period;3&percnt; expansion&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed62b5ab7ad">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; 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