China’s growth edges up but 2016 weakest year since 1990

BEIJING — China’s economic growth accelerated slightly in the final quarter of 2016 but its full-year performance still was the weakest in nearly three decades.

The government reported Friday (Jan 20) the world’s second-largest economy expanded by 6.8 per cent in the fourth quarter over a year earlier, up from the previous quarter’s 6.7 per cent. Full-year growth was 6.7 per cent, down from 2015’s 6.9 per cent and the weakest since 1990.

The Chinese economy has cooled steadily as communist leaders try to steer it to more sustainable growth based on domestic consumption instead of trade and investment. Beijing has repeatedly used massive infusions of credit to prevent activity from slumping too fast, prompting warnings the country’s rapid run-up in debt could lead to a financial crisis or drag on growth. AP