China's economic growth waned to 7.3 percent last quarter, the lowest rate since early 2009, resuming a slowdown that had been eased by mini-stimulus measures earlier in the year.
The 7.3 percent year-on-year growth reported Tuesday by China's National Bureau of Statistics was down from 7.5 percent in the second quarter, which had been bolstered by stimulus spending on infrastructure. Growth in the first quarter was 7.4 percent.
Communist leaders are trying to steer China toward growth based on domestic consumption instead of trade and investment, but the slowdown raises fears of politically dangerous job losses. The latest figures put China on course for annual growth somewhat lower than the rate of 7.5 percent targeted by Chinese leaders.
Chinese growth reached 14 percent in 2007, but took a hit from the global recession of 2008-2009 and has declined steadily since 2012.
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