China's economic growth at slowest pace since 1990s
Beijing has introduced measures including a massive tax cut to boost the economy, but they have not been enough to offset a domestic slowdown and softening overseas demand – made worse by a punishing trade war with its biggest trading partner country, the United States.Analysts widely expect Beijing will step up support in the coming months.
China's 1.3 billion consumers continued to open their wallets, with retail sales growing 9.8 percent on-year in June, up from 8.6 percent in May. And growth in infrastructure investment has retreated from years of near 20 percent expansion – coming in at a 4.1 percent rise in January-June. "It's hard to escape the economic realities that the US-China trade war is having on global economies," said Stephen Innes, managing partner at Vanguard Markets.
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