China’s trade with the rest of the world missed the government’s target for the third year in a row in 2014 as external demand failed to offset the slowing domestic economy, official data released on Tuesday show.
Total Chinese trade increased 3.4 per cent in 2014, compared with an annual goal of 7.5 per cent growth set by the Communist party at the start of last year.
The missed target comes as China prepares to release annual gross domestic product figures next week that will show growth in the world’s largest economy (in purchasing power terms) came in below the government’s annual target for the first time since 1998.
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