China’s GDP growth rate declines to 6.9% in 2015
In 2015 China's GDP growth rate slowed down to 6.9% from 7.3% in 2014, RIA Novosti reports citing data from the National Bureau of Statistics of China. According to economists, the decline in China's economic growth was caused by the weak domestic and external demand, low investment, excess production capacity which intensified deflationary pressure on the economy. In March last year, the Chinese Government has set the bar for economic growth in 2015 at ‘around 7%’. Thus, an increase of 6.9% is generally consistent with the task assigned by the authorities.