Published: Wed, January 23, 2019
Money | By Ethel Goodwin

China population growth continued to slow in 2018:The Asahi Shimbun

China population growth continued to slow in 2018:The Asahi Shimbun

China's birth rate last year fell to its lowest in 60 years despite the abolition of the one-child policy, official data showed on Monday.

China's workforce - those aged between 16 and 59 - was 897.3 million a year ago, a 4.7 million drop from 2017, NBS data showed.

Apart from government policies, he also sees a brighter future for the Renminbi after the yuan hit a 10-year low against the greenback in November 2018.

The U.S. trade deficit with China grew to a record $323.3 billion in 2018.

Slowing growth prompted Premier Li Keqiang last week to vow govt would not let the economy "fall off a cliff".

While China is locked in a bruising trade war with the U.S., Hatzius pinned much of the slowdown on the government's policy push to curb the overall level of debt in the economy.

There are also many doubts about the consistency and veracity of Chinese statistics, given that the governments of many provinces tend to inflate results.

Warning about a more complicated and tough external environment this year, Ning said China had the foundation, condition, confidence and capability to keep economic growth within a reasonable range. The speech by Xiang Songzuo, which AsiaNews will publish in the next few hours, has been censored on the internet.

Even if China and the United States agree on a trade deal in current talks, which would be a tall order, analysts said it would be no panacea for China or its exporters. That's the slowest growth rate in 28 years.

"The economy is going through a soft phase, with continued headwinds from slowing growth in credit, industrial profit and housing sales".

The data was in line with forecasts but underlines recent concern about weakening growth in the world's second-biggest economy.

However, the consumer strength gauge is around the weakest in 15 years.

Growing signs of weakness in China - which has generated almost a third of global growth in recent years - are fueling anxiety about risks to the world economy and are weighing on profits for firms ranging from Apple to big carmakers.

The retail sales growth rate was higher than expected, with analysts predicting a like-sized gain of 8.1 per cent, according to a Bloomberg survey. Copper is technically in a bear market with the price plunging more than 20% since peaking in June 2018 over fears of the impact of the trade dispute between China and the US.

As the data was released, Chinese President Xi Jinping gathered the country's provincial governors and ministers in Beijing for a special session on how to manage "major risks", including ideological, political and economic risks.

Some China watchers believe actual growth is already weaker than official data suggest.

The number of workforce, or those between 16 and 59 years old, stood at around 897 million, accounting for 64.3 per cent of the total population, it said.

As for the new economic engines for Chinese economy, he sees potential in the Greater Bay Area.

International Monetary Fund chief economist Gita Gopinath said that while the downward revisions were modest, "we believe the risks to more significant downward corrections are rising".

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