The index was the lowest since 1990, when it grew only 3.9 percent, as China faced international sanctions in the wake of the Tiananmen Square massacre. But it was still above the government-set 2018 growth target of around 6.5 percent. In the final quarter of last year, China’s GDP expanded 6.4 percent, down from the 6.5 percent growth in the third quarter.
“The country’s economy has performed within a reasonable range in 2018, with economic growth being generally stable and improvement achieved in performance,” Ning Jizhe, bureau head told a press conference in Beijing, according to state-run Xinhua News Agency. “Contributing to nearly 30 percent of the world’s economic growth, the country’s economy has remained the largest contributor to global economic growth,” Ning said.
Looking ahead, Ning Jizhe said China may face a more complicated and tough external environment for development in 2019, but the country has the foundation, condition, confidence and capability to keep economic growth within a reasonable range, ensuring sustained and healthy economic development.