China's economy grows at 4.3 percent, slowest pace in years

Article excerpt

China's economy expanded at an annualized rate of 4.3 percent in the second quarter, marking one of the slowest growth rates in decades. The figure, released Wednesday by the government, reflects a sharp deceleration from the breakneck expansion China sustained for years. The slowdown cuts across most sectors outside of export-oriented manufacturing, which continues to anchor the world's second-largest economy. Domestic consumption has weakened, and investment has lost momentum as households and businesses alike pull back spending. The number underscores mounting headwinds facing China: aging demographics, property-sector fragility, and softer global demand all converge to constrain growth. It's the kind of structural slowdown that no single policy lever can quickly reverse.