China posts slower GDP growth figures

18 October 2011

Ongoing debt issues in Europe had a significant impact on the economic expansion being experienced by China, new figures have shown.

According to official data released by the Asian superpower today (18 October), its gross domestic product (GDP) growth slipped to its slowest pace for more than two years during the third quarter of 2011, Reuters reports.

This means that although the country saw expansion of 9.1 per cent in comparison to 12 months earlier, it has now had slower growth rates for three quarters in a row as it has failed to be immune from global pressures.

For instance, both the US and Europe have experienced bleak financial times over recent months, which has evidently had a major knock-on effect on China.

However, experts feel the nation is still performing well thanks to its domestic strength.

This comes after the Credit Suisse Group indicated that levels of bad debt in Chinese banks are on the rise.

By Tony Aynsley

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