Tiongkok - Pertumbuhan PDB (y-on-y)

The Chinese economy advanced 6.0 percent year-on-year in the September quarter of 2019, slowing from a 6.2 percent expansion in the previous quarter and compared with market expectations of 6.1 percent. It was the weakest growth rate since the first quarter of 1992, amid persistent trade tensions with the US, weakening global demand and alarming off-balance-sheet borrowings by local governments.

The Chinese economy advanced 6.2 percent year-on-year in the second quarter of 2019, slowing from a 6.4 percent expansion in the previous three-month period and matching market expectations. It was the lowest growth rate since the first quarter of 1992, amid ongoing trade tensions with the US, weakening global demand and alarming off-balance-sheet borrowings by local governments.

The Chinese economy advanced 6.4 percent year-on-year in the March quarter of 2019, the same pace as in the previous quarter but slightly above market expectations of a 6.3 percent expansion. Industrial output growth accelerated markedly and consumer demand strengthened amid government's pro-growth policies, which helped stabilize sentiments rattled by trade dispute with the US. On a quarter-on-quarter basis, the economy grew 1.4 percent in the first quarter, compared to a 1.5 percent expansion in the previous period and matching market estimates. It was the weakest quarterly growth rate since the first quarter of 2016.

China targets economic growth of between 6.0 to 6.5 percent for this year, lower than last year's 6.6 percent rate of expansion, which was already the country's weakest annual growth in three decades, Premier Li Keqiang said in a speech at the annual meeting of Chinese parliament. "There has been a more complex and severe environment facing our country's development this year," the Premier added. "There are greater expected and unexpected risks and challenges, and we have to make full preparations for a hard struggle." Regarding fiscal and monetary policies ahead, the Premier said they would be "neither too tight nor too loose". Also, the government would not resort to a flood of liquidity. Growth targets for M2 money supply, which includes cash in circulation and deposits, and total social financing this year would be in line with nominal GDP growth.