China’s economic growth dipped to an almost three-decade low in 2019, although the slowdown was accompanied by a more positive milestone — annual per capita GDP rose above $10,000 for the first time.
Gross domestic product (GDP) expanded 6.1% last year, the weakest pace since 1990 and down from 6.6% growth in 2018, data (link in Chinese) released Friday by the National Bureau of Statistics (NBS) show. The number, which was in line with economists’ expectations, was at the lower end of the government’s target range of 6% to 6.5% and reflects a softening in domestic and global demand and the impact of the trade war with the U.S.
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