China growth slows to 6.9% in first quarter: AFP survey
The National Bureau of Statistics (NBS) will release the official GDP figures for the period on Wednesday. China last year recorded its slowest annual growth since 1990, expanding 7.4 percent, down from 7.7 percent in 2013. "The environment for economic growth since the start of the year has not been too ideal," Zhou Hao, Shanghai-based economist for ANZ, told AFP, citing continuing paring down of inventories by manufacturers and further weakness in property. Nevertheless, China's Communist Party leadership appears largely comfortable with weaker growth, a development top officials say heralds a "new normal" of more stable, consumer-driven expansion in line with China's increasingly mature economy.
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