China's economy expanded by 4.3% in the second quarter, falling short of both the official target range of 4.5% to 5% and market consensus estimates of 4.5%.
The figure, released by the National Bureau of Statistics on Wednesday, marks the slowest quarterly growth rate in more than three years, underscoring persistent headwinds in the world's second-largest economy.
The miss against expectations highlights the fragility of the recovery, with growth decelerating from the 5% pace recorded in the first quarter.
The miss against expectations highlights the fragility of the recovery, with growth decelerating from the 5% pace recorded in the first quarter.
The National Bureau of Statistics acknowledged that the economy is operating within a reasonable range despite external instability and uncertainty, but the data points to a lack of sufficient domestic demand to sustain higher growth rates.
Investors and policymakers are now focused on whether Beijing will introduce additional fiscal or monetary measures to ensure the annual growth target is met.
The slowdown adds to concerns about global growth prospects, particularly for commodity-exporting nations and multinational corporations with significant exposure to the Chinese market.