BEIJING/SHANGHAI (Reuters) – China’s economic growth slowed to a 24-year low in 2014 and could slow further in 2015, forcing authorities to consider how to avoid a further recession.
China’s economy grew by 7.4 percent in 2014, official data showed, which turned out to be quite a bit less than the authorities’ forecast of 7.5 percent. Nevertheless, the growth rate of the economy was the slowest since 1990. In 2013, the figure increased by 7.7 percent.
In the fourth quarter, growth was 7.3 percent compared to the same period in 2013.
(Kevin Yao, Pete Sweeney, translated by Maxim Rodionov)
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