Investment in property development grew by 10.9 per cent in the first half of the year, down from 15.8 per cent in the year to May. Photo: Reuters

China economy reports lowest GDP growth on record for second quarter as US trade war bites

  • China’s economy grew by 6.2 per cent in the second quarter of 2019, the lowest figure since records began in March 1992, but other data for June better than expected
  • While this falls within Beijing’s GDP target for the year of between 6 to 6.5 per cent, it also shows the pressure the economy is under with the US trade war ongoing
Topic |   China economy

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Investment in property development grew by 10.9 per cent in the first half of the year, down from 15.8 per cent in the year to May. Photo: Reuters
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China Poly Group will absorb China Silk Corporation as part of a government restructuring plan. Photo: Weibo

China ignoring US demand for trade war reform by reinforcing state-directed economic model

  • Beijing increasing the influence of state-owned enterprises as well as Communist Party intrusions into boardrooms of private companies
  • Reforms of state-owned enterprises has been a key demand by US President Donald Trump during trade war negotiations, including the ‘Made in China 2025’ plan
Topic |   China economy

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China Poly Group will absorb China Silk Corporation as part of a government restructuring plan. Photo: Weibo
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