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The City roundup video: Chinese economic growth hits 24-year low | The City roundup video: Chinese economic growth hits 24-year low |
(less than a minute earlier) | |
Don't miss out on the goings on in the business world, with our daily round-up of the biggest news from the City. | Don't miss out on the goings on in the business world, with our daily round-up of the biggest news from the City. |
Chinese President Xi Jinping may have just been handed a 62 per cent pay rise, according to the country's state-run media, but he's unlikely to be celebrating anytime soon with the latest data coming from the world's second largest economy suggesting he faces tough times ahead. | Chinese President Xi Jinping may have just been handed a 62 per cent pay rise, according to the country's state-run media, but he's unlikely to be celebrating anytime soon with the latest data coming from the world's second largest economy suggesting he faces tough times ahead. |
China economy slowed to its weakest level in 24 years last year with annual growth figures missing official targets for the first time in 15 years. | China economy slowed to its weakest level in 24 years last year with annual growth figures missing official targets for the first time in 15 years. |
Beijing's numbers showed the economy grew at a rate of 7.4 per cent in 2014 - fast by Western standards - but below its 7.5 per cent target. | Beijing's numbers showed the economy grew at a rate of 7.4 per cent in 2014 - fast by Western standards - but below its 7.5 per cent target. |
The country has been hit by falling property prices, as well as debt-laden companies and local governments. | The country has been hit by falling property prices, as well as debt-laden companies and local governments. |
This has heaped pressure on Beijing to take aggressive steps to avoid a sharper slowdown. | This has heaped pressure on Beijing to take aggressive steps to avoid a sharper slowdown. |
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