China's economy expanded at a slower-than-expected annual rate of 4.7 percent in the second quarter, focusing on signs of improvement in factory output, income, and investment.
According to data released by the Chinese government, this is sharply lower than the annual growth pace of 5.3 percent seen in China in the first quarter of this year.
Weak consumer demand and lower government spending are weighing on growth in the world's second-largest economy.
The National Bureau of Statistics revealed that the economy grew by 5 percent in the first half of the year, a target set by the government for growth of about 5 percent.
Source (Al Arabiya.net Website, Edited)
