China’s economic growth slowed in the first three months of this year to 7.4 percent from a year earlier, government data showed Wednesday, dragged down by a slowdown in property investment growth as concerns rise about a possible slump in the real estate market.
The news was shrugged off by financial markets and will not cause any panic in the corridors of power in Beijing just yet: The headline number was slightly better than analysts had expected and not far below an official target of 7.5 percent announced last month or the growth of 7.7 percent recorded in 2013.
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