This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-23310975

The article has changed 6 times. There is an RSS feed of changes available.

Version 1 Version 2
China's economic growth at 7.5% in April to June period China's economic growth at 7.5% in April to June period
(35 minutes later)
China's economic growth slowed in the April to June period, the second straight quarter of weaker expansion.China's economic growth slowed in the April to June period, the second straight quarter of weaker expansion.
The economy grew by 7.5% compared to the previous year, down from 7.7% in the January to March period, data showed. The world's second biggest economy grew by 7.5% compared to the previous year, down from 7.7% in the January to March period, data showed.
The numbers were in line with analyst expectations. The figures were in line with analyst expectations.
After decades of blistering growth in China, analysts say authorities now seem ready to accept a slower pace of expansion.After decades of blistering growth in China, analysts say authorities now seem ready to accept a slower pace of expansion.
The data showed that weak trade data and actions by authorities to reign in bank lending contributed to the slower growth. The figures showed that weak trade data and actions by authorities to reign in bank lending contributed to the slower growth.
"These figures are not surprising, adding to signs of downward pressure on China's economy," said Zhou Hai from ANZ Bank in Shanghai. "As of now, China's gross domestic product has been staying under 8% for five straight quarters, a clear sign of distress," said economist Ren Xianfang from IHS Global Insight.
"The rather sharp growth deceleration and the recent financial market turmoil indicate that risks have been building on both the financial and real goods sector," she added.
The government has set a target of 7.5% growth for the whole of 2013, which would mark the lowest rate of expansion in more than two decades.
Short-term pain?
However, analysts questioned whether that would be achieved without some stimulus measures from the government.
A spokesperson for the National Bureau of Statistics said: "Major indicators are within our targeted range but we face a complex situation".A spokesperson for the National Bureau of Statistics said: "Major indicators are within our targeted range but we face a complex situation".
China's leaders have repeatedly said that the long-term goal is to rebalance the economy away from an over-reliance on exports and investment and spur consumer spending instead.
"Some measures, including the intensified property tightening campaign, new rules to curb misuse of public funds and the exit some previous stimulus policies, will inevitably have some impact on growth in the short term, but they will benefit our economy in the long run," said Sheng Laiyun from the bureau of statistics at a press conference.
In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years.