China’s economy grew 9.5 per cent in the second quarter from the same period a year earlier, its slowest pace in nearly two years as government attempts to cool growth took effect.
But the performance was stronger than many economists had expected and there were few signs that the world’s second-largest economy faces the “hard landing” that some have predicted.
“There is only a very small chance that China’s economy will witness a drastic and rapid decline”, said Sheng Laiyun, spokesman for the National Bureau of Statistics said on Wednesday.
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