China’s economic growth weakest in 25 years

Investors are seen in front of an electronic board showing stock information at a brokerage house in Beijing on January 18, 2016.

China has announced its weakest economic growth figures for 25 years. Its economy grew 6.9% in 2015, compared with 7.3% a year earlier. Retail sales growth cooled to 10.6% from 2014's 12%, while the country's unemployment rate is at around 5.1%. The slowdown in the world’s second-largest economy is a major concern for global investors. It comes as the Chinese government tries to transition from a centrally planned economy to a more market-oriented model. Authorities are finding it difficult to manage the change, with weak exports, factory overcapacity, and high debt levels compounding their problems.

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