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China Finance and Leasing Industry - An outlook on where it's headed
In the year 2018, China's economy witnessed the slowest growth ever in the last 28 years. The year on year GDP increased to 6.6%, according to the National Bureau of Statistics. Fourth quarter GDP growth stood at 6.4%, down from 6.5% year-on-year growth during the third quarter of 2018. The economic growth has been hindered by the ongoing trade war between China and the United States, coupled with a drive to reduce corporate debt. For the first time in nearly seven years, the economy grew at a faster pace in 2017, while diminishing again in 2018. Despite the flagging economic growth, however, the growth rate in 2018 surpassed the target established by the Chinese government of 6-6.5%.
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