China’s economy grows 6.1 per cent in 2019, the slowest rate in 29 years

China’s National Bureau of Statistics has announced that national GDP grew by 6.1 per cent in 2019. This is the slowest rate since 1990.

The economy of China has become more of a market-oriented economy. It currently ranks as the 2nd largest in the world by nominal GDP. China has the world's fastest-growing major economy, with growth rates averaging about 6% over 30 years. The country has natural resources with an estimated worth of $23 trillion, 90% of which are coal and rare earth metals. Interestingly, China also has the world's largest total banking sector assets of $39.93 trillion (268.76 trillion CNY) with $27.39 trillion in total deposits.

Some Interesting English to Chinese Translations:

China - 中国
GDP - 国内生产总值
Assets - 资产
Banking - 银行业
China’s National Bureau of Statistics - 中国国家统计局
Economy - 经济
Growth - 成长性
Slow - 慢
Fast - 快速
Deposit - 存款
Rank - 秩
Rate - 率
Chinese Economy - 中国经济