The pace of China’s GDP growth in 2015 fell to the lowest level since 1990, and amounted to 6,9%

The pace of China’s GDP growth in 2015 fell to the lowest level since 1990, and amounted to 6,9%


BEIJING, January 19. /Corr. Roman Balandin/. The growth rate of China’s GDP in 2015 was 6.9%, the lowest rate since 1990. This was reported on Tuesday national Bureau of statistics of China.

According to the Agency, in the fourth quarter of 2015 economic growth of the PRC decreased to 6.8%.

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Currently in China there is a gradual slowdown in the growth of the national economy. In 2010 the GDP growth rates were at the level of 10.4%, in 2011 – 9.2% and in 2012 of 7.8%. By the end of 2013, this figure had slowed to 7.7% and in 2014 to 7.4%. Official government GDP growth forecast for 2015 was 7%.

This happens against the background of changing the model of its development, the focus of which now shifted from production and investment toward consumption and services.

Exports

The report also stated that the export volume of China in 2015 fell by 1.8% in annual terms and amounted to 14.14 trillion yuan ($2.16 trillion).

According to the Ministry, total foreign trade volume of China in 2015 decreased by 7% yoy to 24,59 trillion yuan (about $3.8 trillion).

The volume of imports of the PRC in 2015 decreased by 13.2% in annual terms and amounted to $ 10,45 trillion yuan (about $1,59 trillion).

The volume of investments in fixed assets

The report indicates that by the end of 2015 the volume of investments in fixed assets (excluding agriculture) of China grew by 10% and amounted to $ 55,159 trillion yuan ($of 8.39 trillion).

As noted in the document, last year the volume of investments in extractive industries of the PRC increased by 31.8% to 1,5561 trillion yuan ($237 billion). In the sector of industrial production the volume of investments increased by 8% to 22,409 trillion yuan ($3.4 trillion). In the services sector, the inflow of investment by the end of 2015 amounted to $ 31,193 trillion yuan ($4.74 billion), which is 10.6% higher than in 2015.

In China, there is a slowdown in the growth of investment in fixed assets. So in 2011 the volume of investments increased by 31.8%, in 2012 – by 22%, in 2013 – by 19.6%, and in 2014 of 15.7%.

It is also noted that the share of services in China for the first time in history exceeded half of GDP and reached 50.5%.

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