China registers 6-year low in GDP growth
15 Apr 2015
The Chinese economy grew at its slowest pace in the last six years as its gross domestic product expanded at seven percent year on year, official data has revealed.
The figures were better than most market predictions, but it also indicated a continued downward pressure for the world's second largest economy.
China had registered an economic growth of 7.3 per cent in the fourth quarter of 2014.
On a quarterly basis, China's economic growth slowed down to 1.3 per cent between January and March, as opposed to 1.5 percent in the previous quarter, the National Bureau of Statistics said.
Analysts had expected a quarterly growth of 1.4 per cent.
The numbers however, supported analysts' forecasts for China's economic growth will dip to seven per cent this year, the lowest in a quarter of a century.
