In line with forecasts, China's economy grew by 6.7% in 2016January 20, 2017 - 10:30 AMT PanARMENIAN.Net - China's economy grew by 6.7% in 2016, compared with 6.9% a year earlier, marking its slowest growth in more than a quarter of a century, BBC News reports. China's growth is a key driver of the global economy and a major concern for investors around the world. The figure is in line with Beijing's official growth target of between 6.5% and 7%. But some observers say China's growth is actually much weaker than official data suggests. For the fourth quarter, the world's second biggest economy grew by 6.8%. China is the world's second-biggest importer of both goods and commercial services, meaning its economic performance has a big knock-on impact around the world. It plays an important role as a buyer of oil and other commodities. Its slowdown has been a factor in the decline in the prices of such goods. Beijing's aim to rebalance the economy towards domestic consumption has led to major challenges for large manufacturing sectors with layoffs, especially in heavily staffed state-run sectors such as the steel industry. Related links: Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Surveying works underway in Armenia’s Kirants Surveying works are underway in the Armenian village of Kirants in the northern Tavush province. Armenia calls for prohibiting threats of attacks on nuclear facilities Armenia has raised the need for a treaty prohibiting attacks on nuclear facilities devoted to peaceful purposes. Armenia says ready to extend nuclear plant’s lifetime by 10 years Armenia has taken necessary measures to extend the lifetime of its nuclear power plant until 2036. Ameriabank's Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC Ameriabank received the awards from international financial institutions in recognition of its trade finance operations. |