China's economy slows again amid signs of stabilizing

China's economy continued to slow in the first quarter of 2016, official data showed on Friday, but several key indicators pointed to signs of stabilizing.

The Xinhua news agency has quoted the National Bureau of Statistics (NBS) as saying, that the country's GDP grew 6.7 percent year on year to reach 15.9 trillion yuan (2.4 trillion U.S. dollars).

The growth further narrowed from the previous quarter's 6.8 percent, which was already the lowest quarterly rate since the global financial crisis.

However, the figure was in line with market expectations and remained within the government's targeted range of between 6.5 and 7 percent for 2016.

Source:WAM