Chinese economic grows weakest level since 1992

The Chinese economy grew at 6%, its weakest growth rate in almost three decades, government officials reported on Friday.

Gross domestic product expanded 6.0 percent in July-September, from 6.2 percent in the second quarter, according to the National Bureau of Statistics (NBS).

The 2019 growth rate falls within the government's annual goal of between 6 and 6.5%, but with a marked slowdown compared to previous years. It is the slowest growth the Chinese economy has seen since 1992.

China is battling weakened domestic spending and a prolonged trade war with the US that has hurt Chinese exports.

The government intends to address the sluggish growth with tax cuts and increased access to credit in an attempt to improve the country's business and investment landscape.

While NBS spokesman Mao Shengyong said the economy was showing stability, he warned: "We must be aware that given the complicated and severe economic conditions both at home and abroad, the slowing global economic growth, and increasing external instabilities and uncertainties, the economy is under mounting downward pressure."

Services and high-tech manufacturing were the key areas of growth, while employment was "generally stable", he added.