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China's economy grows 8.1% in 2021, GDP slowed to 4% in Q4

Activity slumped under pressure from Beijing on the real estate industry, a key growth driver, to cut debt levels that Chinese leaders worry are dangerously high

File image of the Chinese city of Shanghai (Image: Shutterstock)

File image of the Chinese city of Shanghai (Image: Shutterstock)

China's economy grew by 8.1 percent in 2021 after an abrupt slowdown in the second half that is prompting suggestions Beijing needs to shore up slumping growth.

In the final three months of 2021 (Q4 CY22), the world's second-largest economy expanded at a 4 percent annual pace, government data showed on January 17. That is down from the previous quarter's 4.9 percent and an eye-popping 18.3 percent in January-March.

Activity slumped under pressure from Beijing on the real estate industry, a key growth driver, to cut debt levels that Chinese leaders worry are dangerously high.

That has prompted suggestions Beijing may need to cut interest rates or pump money into the economy through more public works construction.



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Associated Press
first published: Jan 17, 2022 08:25 am
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