China's economy grew by 8.1% in 2021, slowed down in second half

China’s economy grew by 8.1 per cent in 2021 after an abrupt slowdown in the second half, which is prompting suggestions that Beijing needs to shore up slumping growth.

In the last three months of 2021, the world’s second-largest economy expanded at a four per cent annual pace, according to government data released on Monday. The expansion is down from the previous quarter’s 4.9 per cent and an eye-popping 18.3 per cent in January-March.

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Activity slumped under pressure from Beijing on the real estate industry, a key growth driver, to cut debt levels that Chinese leaders worry are dangerously high.

That has prompted suggestions Beijing may need to cut interest rates or pump money into the economy through more public works construction.

(With inputs from Agencies)