China’s economic growth slows slightly in second quarter

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China’s economic growth has slowed slightly in the second quarter as it is facing a snowballing trade fight with the United States. The world’s second-biggest economy expanded 6.7 per cent in the April-June quarter, down from 6.8 per cent in the first quarter. Despite the quarterly deceleration, growth was still higher than the annual target of around 6.5 per cent set by the Chinese government.

Chinese National Statistics Bureau said, the impact of the deepening trade conflict with the US was yet to fully kick in and the Beijing would continue to assess the situation in the second half of the year. The Bureau said, the trade war will have an impact on the economies of both China and US, and now that the world economy is deeply integrated, and the industrial chain is globalised, many related countries will also be affected.

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