Economic growth hits 14-year low in China

<p>Fears over the state of the Chinese economy are growing.</p>

New data shows that economic growth in China has hit a new 14-year low.

Fears over the state of the Asian nation's economy are likely to grow on the back of the official figures being released.

Gross domestic product (GDP) was shown to have expanded by 7.7 per cent from a year ago, which was slightly above the government's target of 7.5 per cent, reports BBC News.

"The figure showed China's economy had touched the bottom in the third quarter of 2013 and then stabilised in the end of last year," said Li Huiyong, an economist with Shenyin & Wanguo Securities in Shanghai.

He added that he is expecting this trend to continue over the course of 2014, while policymakers are "determined" to push forward the reforms to maintain stable economic growth.

The World Bank recently predicted that the Chinese economy would grow by 7.7 per cent during 2014, with the global economy described as being at a turning point.

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