The growth rate of China’s GDP in 2015 fell to the lowest since 1990 and amounted to 6.9% – TASS

BEIJING, Jan. 19. / Correspondent. Roman Balandin TASS /. The growth rate of China’s GDP in 2015 amounted to 6.9%, which is the lowest figure since 1990. This was reported on Tuesday, the State Statistical Bureau of China.

According to the ministry, in the fourth quarter of 2015. China’s economic growth slowed to 6,8%.

At present, China is a gradual slowdown in the national economy. In 2010, GDP growth was at 10.4%, in 2011 – 9.2% and in 2012 – 7.8%. At the end of 2013 this figure slowed to 7.7%, and in 2014 – to 7.4%. The official government forecast for GDP growth in 2015 was 7%.

This is against the backdrop of changing patterns of development, the focus of which is now shifted to the production and investment towards consumption and services.

The volume of exports

The report also said that China’s exports in 2015 decreased by 1.8% yoy and amounted to 14.14 trillion yuan (about $ 2.16 trillion).

According to the agency, the total amount of China’s foreign trade in 2015 decreased by 7% yoy to 24.59 trillion yuan (about $ 3.8 trillion).

The volume of imports China in 2015 decreased by 13.2% yoy and amounted to 10.45 trillion yuan (about $ 1.59 trillion).

The volume of investments in fixed assets

The report It states that at the end of 2015 the volume of investments in fixed assets (excluding agriculture) in China grew by 10% and amounted to 55.159 trillion yuan ($ 8.39 trillion).

According to the document, last year the volume of investments in the extractive industries of China grew by 31.8% – up to 1.5561 trillion yuan ($ 237 billion). In the manufacturing sector investments increased by 8% – to 22.409 trillion yuan ($ 3.4 trillion). In services, the inflow of capital at the end of 2015 amounted to 31.193 trillion yuan ($ 4.74 trillion), up 10.6% more than the same period in 2015.

In China, there is a slowdown in investment in fixed assets. So in 2011 the volume of investments grew by 31.8%, in 2012 – 22%, in 2013 – 19.6% and in 2014 to 15,7%.

It is also noted that the share of services in China for the first time in history exceeded half of the produced GDP and reached 50,5%.