China released its fourth quarter GDP for 2019, showing an economic growth of 6% compared to last year. Official data showed that the Chinese economy maintained last quarter’s pace as expected by analysts.
GDP was estimated to grow by 6% in the October-December quarter, stalling at the shortest pace in twenty-nine years.
As China faced weak demands both locally and abroad amid trade pressure, policymakers launched growth-boosting activities in the past two years while maintaining control financial and debt risks.
China, the world’s second largest economy rose 6.1% in 2019, fitting in the government’s target range of 6-6.5% despite falling in the slowest growth in 29 years. Analysts estimated economic growth at 6.1%, from the 6.6% estimate in 2018.
Data showed that GDP increased by 1.5% in the fourth quarter compared to the past three months, as expected to follow the pace of the July-September quarter, said National Bureau of Statistics.