China Economic Performance in the First Half of 2016
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China’s economic growth continued to slow down further. In the first half of 2016, real GDP growth moderated to 6.7% YoY from 6.9% in 2015 and 7% a year earlier respectively. Of the industrial enterprises above designated size, value added decreased marginally to 6.0% from 6.1% in 2015 and 6.3% a year ago. (see Fig. 1.1). China’s continued economic slowdown reflects that, given subdued external demand, increasing labor cost, and end of property boom, the investment-driven and export-oriented growth model, which has served China well in the past, is now in a difficult position as returns on investment (ROI) has fallen.