BEIJING : China's economic growth in the fourth quarter slowed to the weakest since the financial crisis, adding pressure on a government that is struggling to restore the confidence of investors after perceived policy missteps jolted global markets.
Concerns about China's policy making ability have shot to
the top of global investors' risk lists for 2016 after a renewed plunge in its stock markets and yuan currency CNY=CFXS stoked worries that the economy may be rapidly deteriorating.
After being a major locomotive of global growth in recent years, China is locked in the midst of a protracted slowdown.
Weak exports, factory overcapacity, slowing investment, a soft property market and high debt levels are all compounding problems for the government as it tries to transition from a centrally planned economy to a more market-oriented model that will require leaders to cede a large degree of control.
Growth in fourth-quarter gross domestic product (GDP) eased as expected to 6.8 percent from a year earlier, down from 6.9 percent in the third quarter and the weakest pace of expansion since the first quarter of 2009.
Full-year growth of 6.9 percent, enviable by Western standards, was China's poorest showing in quarter of a century.
Concerns about China's policy making ability have shot to
the top of global investors' risk lists for 2016 after a renewed plunge in its stock markets and yuan currency CNY=CFXS stoked worries that the economy may be rapidly deteriorating.
After being a major locomotive of global growth in recent years, China is locked in the midst of a protracted slowdown.
Weak exports, factory overcapacity, slowing investment, a soft property market and high debt levels are all compounding problems for the government as it tries to transition from a centrally planned economy to a more market-oriented model that will require leaders to cede a large degree of control.
Growth in fourth-quarter gross domestic product (GDP) eased as expected to 6.8 percent from a year earlier, down from 6.9 percent in the third quarter and the weakest pace of expansion since the first quarter of 2009.
Full-year growth of 6.9 percent, enviable by Western standards, was China's poorest showing in quarter of a century.
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