World News | China's Economy Grows 8.1% in 2021, Slows in Second Half
Get latest articles and stories on World at LatestLY. China's economy grew by 8.1% in 2021 after an abrupt slowdown in the second half that is prompting suggestions Beijing needs to shore up slumping growth.
Beijing, Jan 17 (AP) China's economy grew by 8.1% in 2021 after an abrupt slowdown in the second half that is prompting suggestions Beijing needs to shore up slumping growth.
In the final three months of 2021, the world's second-largest economy expanded at a 4% annual pace, government data showed Monday. That is down from the previous quarter's 4.9% and an eye-popping 18.3% in January-March.
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Activity slumped under pressure from Beijing on the real estate industry, a key growth driver, to cut debt levels that Chinese leaders worry are dangerously high.
That has prompted suggestions Beijing may need to cut interest rates or pump money into the economy through more public works construction. (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)