China's growth has fallen to its lowest level in 27 years

This figure corresponds to the forecasts of a group of experts interviewed last week by AFP and remains within the range set by Beijing for this year, between 6% and 6.5% of gross domestic product (GDP). compared to 6.6% in 2018.

Even in this case, it is the smallest increase in Chinese GDP since the start of quarterly data recording in 1992, according to the Bloomberg news agency.

"Economic conditions remain difficult, both in China and abroad, global growth is slowing and external instabilities and uncertainties are increasing," said spokesman for the National Bureau of Statistics (SNB) on Monday. , Mao Shengyong.

The American president Donald Trump, which keeps denouncing China's trade surplus with the United States, applied last year's tariffs on many Chinese products.

This trade war has weighed on the Chinese economy since last year but in June, US President Donald Trump and his Chinese counterpart Xi Jinping declared a truce at a summit of G20 in Osaka (Japan).

Both countries have pledged to resume negotiations to try to put an end to their trade disputes.

China and the United States have mutually imposed transaction rights worth more than $ 360 billion a year.

"The trade war has had a huge impact on the Chinese economy," said Edward Moya, an badyst at Oanda.

In order to support its economy, Beijing has committed in March to reduce by nearly 2 trillion yuan (about 265 billion euros) the tax and social business burden.

The government has also encouraged banks to increase their lending to small businesses.

But these measures coincided with the authorities' fight against the uncontrolled debt that threatens China's financial system.

In 2018, China's economic growth had already registered a sharp deceleration in all quarters (6.8%, 6.7%, 6.5%, 6.4%), but in the first quarter of 2019, GDP had resisted (6.4%) despite trade tensions.

By the way, the National Bureau of Statistics released Monday other indicators, more encouraging.

Industrial production rose in June (6.3% year-on-year vs. 5% in May), as did retail sales during this period (9.8% vs. 8.6% in May), said Mao Shengyong.

At the dawn of the 70th anniversary of the founding of the People's Republic of China, Beijing needs healthy growth, said economist Raymond Yeung, of ANZ Bank.

"The Chinese government will not let the next quarterly growth rate fall below 6 percent," he warned.

Last Wednesday, Chinese Premier Li Keqiang called for increased support for companies operating and selling abroad and promised fiscal stimulus, all in a context of falling Chinese exports.