China's economic growth hits slowest pace in more than three years
China's economy grew at its weakest pace in more than three years during the second quarter, data showed on July 15, missing expectations even as strong exports driven by the global AI boom helped offset trade disruptions caused by the Middle East war.
The 4.3 percent year-on-year expansion reported by the National Bureau of Statistics (NBS) for April-June, was short of the 4.5 percent forecast in an AFP survey of economists and the slowest growth since the fourth quarter of 2022.
It was also short of the 4.5-5.0 percent annual rate targeted by Beijing, which is the lowest in decades.
A years-long crisis in the property sector and a persistent slump in domestic spending have left leaders reliant on exports to meet growth targets.
