Chinese
economic growth slowdown
China's economic
growth slowed in the April to June period, the second straight quarter of weaker
expansion.
The world's
second biggest economy grew by 7.5% compared to the previous year, down from
7.7% in the January to March period, data showed.
However the data corresponds to analyst expectations.
The figures showed that weak trade data and actions by authorities to rein in bank lending contributed to the slower growth.
this slowdown economic growth was due to sharp growth decrease and the recent financial market turmoil
Global
impact
The government
has set a target of 7.5% growth for the whole of 2013, which would mark the
lowest rate of expansion in more than two
decades.A slowdown in economic activity in China has a global impact as companies that sell to China may see revenues undergo.
Countries including Australia, Brazil and others in South East Asia have seen huge profits in recent years because of Chinese demand for natural resources.
The fall in demand from China has already an impact on the prices of many commodities.
Last week, China's Finance Minister Lou Jiwei indicated that economic growth could be 7% for the year, and that this may not be the "bottom line".
The decline economic growth in China, the world's second largest economy after the U.S. economy, was due to the euro zone debt crisis and uncertainty surrounding the recovery of the U.S. economy as well as rising wages and other production costs in China.
The government launched in March last set of measures aimed at increasing the income of urban and country areas, also to help the poor courtiers , and giving value to the emerging middle class and the establishment of a strong system of social security.
On the other hand, released on Monday showed , the growth of industrial output value-added of China during the first half of this year by 9.3 % compared to the same period last year.
The "New China News Agency" (Xinhua) showed that the growth rates recorded during the half-year declined 0.2 % than the growth rate in the first quarter of this year, and less than 0.7 % than the growth rate over the past year as a whole.
