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Financial News: China Lowers 2019 GDP Growth To 6.1%

China Lowers 2019 GDP Growth To 6.1%

12/30/2020 - 01:21:00 (RTTNews)

(RTTNews) - China downgraded its economic growth for 2019 on Wednesday, which is set to provide a low base for the 2020 growth calculation.

The National Bureau of Statistics revised down the GDP growth for 2019 to 6.0 percent from 6.1 percent. For 2019, the government had targeted 6.0-6.5 percent annual expansion.

This year China avoided setting economic growth target for the first time due to the uncertainty posed by the outbreak of Covid-19.

The NBS is set to publish the fourth quarter GDP data on January 18. China is expected to be the only major economy to expand in 2020 as it managed to control the spread of the coronavirus.

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