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China's economic growth slumps to lowest in 29 years

Jan 19, 2020 19:25 IST

China's economy grew by 6.1% in 2019, the lowest annual growth rate in 29 years, according to the country's National Bureau of Statistics. Weak domestic demand and an 18-month-long trade war with the US, seemed to have taken a toll on the world's second-largest economic giant. The new data comes after China and the US signed a long-awaited phase one trade deal, as the trade war saw the world's two largest economies slap 25% tariffs, on about half a trillion-dollar worth of each other's exports. China's GDP growth remained well within the 6% to 6.5% target set by the government.

International