China's 6.9% annual GDP growth worst in 25 years

Business Materials 19 January 2016 07:25 (UTC +04:00)

It specified that first and second quarter growth in 2015 amounted to 7 percent each, followed by 6.9 in the third quarter and 6.8 in the fourth.

"According to preliminary data, the Gross Domestic Product of China in 2015 was [$10.3 trillion], which is 6.9 percent more than last year", Sputnik reported.

The slowdown in China is attributed to stock market volatility as the national currency, the yuan, continues to lose value against the US dollar.

Chinese President Xi Jinping signaled last November an end to the country's annual 7 percent growth benchmark and announced a target of 6.5 percent until 2020.

Investment in China's Fixed Assets at $8.4Tn in 2015.

Investment in China's fixed assets last year amounted to an equivalent of $8.4 trillion.

Investment into China's mining industry increased by 31.8 percent from last year at $230 billion. Manufacturing investment totaled $3.41 trillion, while $4.76 trillion was invested in the services sector.

The data indicates that all of China's fixed assets, with the exception of rural areas, have seen 10 percent growth in investment from 2014.

The country's 6.9 percent GDP growth last year was the worst since 1990.