The Chinese economy recorded only single-digit growth for the first time in four years in Q3, as the global credit crisis begins to have an effect on the burgeoning Asian region.
Growth in the communist state fell to 9% in the third quarter, well below the 10.4% posted the previous period. GDP increased 9.9% over the first three quarters of the year, 2.3 percentage points lower than the same period in 2007. “The international financial market is turbulent and changeable, the growth rate of world economy slows down noticeably, there are more uncertain and volatile factors in international economic climate,” China National Bureau of Statistics spokesman Li Xiaochao says. “All these factors start to release their negative impacts on China’s economy.” Contact: Hysni...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes