China 8217 s new leaders due to inherit weakest growth
China’s new leaders are due to inherit the weakest economic growth since the reign of Deng Xiaoping.
China's new leaders are due to inherit the slowest economic growth the country has seen since Deng Xiaoping came to power some 30 years ago.
Bloomberg reports that the Asian superpower – which up until recently was on course to expand beyond the world's largest economy the US – may need to borrow to avert a steep decline.
The Communist Party is preparing to appoint vice-president Xi Jinping and vice-premier Li Keqiang next month, but at the same time data from exports to production indicate the government will have difficulty this year to reach its goal of 7.5 per cent expansion.
Xi and Li will face the task of counterbalancing weak demand from the US and Europe – which were once the driving force of the country's rapid growth.
At 09:15 BST, the Hong Kong Hang Seng was lower by 0.2 per cent to an index value of 20691.6 points, while the Shanghai SSE Composite rose 0.3 per cent to an index value of 2033.1 points.
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