The World Bank said on Tuesday that mainland economy will grow by just 7.5 per cent next year, the lowest level in 19 years, due partly to the global economic slowdown.

The forecast, made in the World Bank’s quarterly update on the mainland, is down from a previous estimate of 9.2%, and would be the fourth lowest growth rate in the country since the launch of reforms three decades ago.

The last time mainland saw a similar slowdown was in 1990 – amid international isolation following the Tiananmen massacre the year before – when it grew by just 3.8%.

South China Morning Post