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China's economy slows amid rate hikes, inflation

China's economy slows amid rate hikes, inflation

China's rapid economic growth slowed slightly in the latest quarter as the government hiked interest rates and tried to cool surging inflation.
The government said Wednesday the economy grew 9.5 percent over a year earlier in the three months ending in June, down from 9.7 percent in the previous quarter.
Beijing is trying to steer breakneck growth to a more sustainable level and cool inflation that hit a three-year high of 6.4 percent in June.


Updated : 2021-06-13 07:58 GMT+08:00