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Chinese economic growth among slowest in decades
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By Francesca Hangeior.
China recorded one of its slowest rates of economic growth in decades last year, data showed Friday, as leaders nervously eye a potential trade standoff with incoming US president Donald Trump.
Beijing has in recent months announced its most aggressive support measures in years in a bid to reignite an economy that has suffered on multiple fronts, including a prolonged property market debt crisis and sluggish consumer spending.
But, the economy grew five per cent last year, official data from Beijing’s National Bureau of Statistics showed Friday, slightly above the 4.9 per cent forecast in an AFP survey of analysts.
Still, the figure was lower than the 5.2 per cent recorded in 2023.
The growth took place in the face of a “complicated and severe environment with increasing external pressures and internal difficulties”, the NBS said.
The economy was still facing “difficulties and challenges”, officials admitted.
Retail sales, a key gauge of consumer sentiment, rose 3.5 per cent — a major slump from the 7.2 per cent growth seen in 2023 — though industrial output increased 5.8 per cent, from 4.6 per cent the previous year.
However, the 5.4 per cent jump in economic growth seen in the final four months far outpaced the five per cent forecast in a Bloomberg survey and was much better than the same period in 2023.
The data provided “mixed messages”, Zhiwei Zhang, president of Pinpoint Asset Management, said.
Beijing’s recent policy shift had “helped the economy to stabilise in (the fourth quarter), but it requires large and persistent policy stimulus to boost economic momentum and sustain the recovery”, he said.
Zichun Huang, China economist at Capital Economics, said she expected growth to “continue accelerating in the coming months”.
“The government’s property support measures seem to be providing some relief, with the pace of house price falls slowing and new home sales showing some recovery,” she said.
The GDP growth rate is the lowest recorded by China since 1990, excluding the financially tumultuous years of the Covid-19 pandemic.
And the analysts surveyed by AFP estimated growth could fall to just 4.4 per cent in 2025, and even drop below four per cent the following year.
China has so far failed to rebound from the pandemic, with domestic spending mired in a slump and indebted local governments dragging on growth.
In a rare bright spot, official data showed earlier this week that exports reached a historic high last year.
But gathering storm clouds over the country’s massive trade surplus mean Beijing may not be able to count on overseas shipments to boost an otherwise lacklustre economy.
Trump, who will begin his second term next week, has promised to unleash heavy sanctions on China.
“We still expect growth to slow for 2025 as a whole, with Trump likely to follow through on his tariff threats soon and persistent structural imbalances still weighing on the economy,” Huang said.
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Teenage girl allegedly stabbed parents to de@th, stabbed family dog, sent crime scene photos to friends
A 15-year-old girl from Groningen in the Netherlands was arrested after her parents, Johan and Mathilda, both 53, were found f@tally stabbed last Thursday, June 18, Dutch outlet Algemeen Dagblad reported.
The family’s pet golden retriever also suffered stab wounds in the rampage, the Sun reported.
The dog’s condition is unclear.
The girl took images of her slain parents and then shared the disturbing photos with her friends on WhatsApp after the bloody attack, the Telegraaf reported.
“You could see both of her parents lying on the ground with their eyes open. Her father was lying on the floor, and her mother was on the bed. There was blood visible and a knife,” one student told the outlet in Dutch.
Local police declined to comment further on the images, but encouraged people to never distribute such images online and report them to the police, the reports said.
The girl reportedly struggled with her identity and often pretended to be a dog, crawling around and barking on all fours with other friends in school corridors.
“She wore a tail, dog ears, and gloves,” another classmate told the outlet. “And sometimes she would make barking sounds.”
Johan and Mathilda’s relatives said in a statement obtained by Algemeen Dagblad that they “can hardly comprehend” the murd£rs.
‘We hope that everyone understands that we are deeply affected by the tragic events surrounding the passing of Johan and Mathilda from Meerstad,” family and friends said in a statement through an aid organization.
“But the support and sympathy we have received from many do us good and are heartwarming.”
An investigation into the slayings remains ongoing.
News
OGTV broadcaster: Police recover stolen Lexus RX300 as CP vows “no stone unturned” in murder probe
Ogun State Police Command says it has recovered the Lexus RX300 stolen from the home of slain ex-OGTV broadcaster Mrs Kitan Oyesiku and her security guard in Iyana Agodo Village, Owode-Egba.
The recovery happened during night operations, the command confirmed Monday.
—CP walks the scene himself—
Commissioner of Police Bode Ojajuni visited the crime scene for an on-the-spot assessment. He inspected the premises and got briefings from detectives handling the case.
“CP Ojajuni reiterated the Command’s resolve to leave no stone unturned in unraveling the circumstances surrounding the incident and ensuring that those responsible are identified, apprehended, and brought to justice,” Police PPRO Oluseyi Babaseyi said in a statement.
The visit, according to police, was to evaluate progress in the investigation into the double murder that has rattled the Owode-Egba community.
—What happened that night—
PUNCH Online had reported that a resident raised the alarm over suspicious movements around Oyesiku’s residence. When operatives arrived, they found signs of forced entry.
Inside, the security guard was found dead at his post. Oyesiku’s body was later discovered inside the apartment. Her Lexus RX300 was missing.
Police now say the vehicle has been secured and will serve as key evidence. “It is worthy of note that the vehicle earlier reported missing from the residence, a Lexus RX300, has been recovered by police operatives during the night hours,” Babaseyi confirmed.
—“Intensive investigation ongoing”–
Ojajuni commiserated with Oyesiku’s family and assured Ogun residents that “all available resources are being deployed to track down the perpetrators.”
For now, no arrests have been announced. But with the car recovered and the CP personally monitoring the case, police say they’re closing in.
Oyesiku, a retired broadcaster with Ogun State Television, was remembered by colleagues as a calm voice on air. Her death, alongside her guard’s, has renewed calls for better security for elderly residents living alone in semi-urban areas. [The Punch report rewritten]
News
Tinubu set to Flag-Off Construction of Service Carriageways of the Southern Parkway, from Arterial Road S20 (Oladipo Diya way) to Ring Road II, today
President Tinubu Will Flag-Off Construction of Service Carriageways of the Southern Parkway, from Arterial Road S20 (Oladipo Diya way) to Ring Road II and Collector Road CO1 from Nile University area to Ring Road III (Extension of Body of Benchers road) Today
#FCTRenewedHope
#FCTProjectsCommissioning
Teenage girl allegedly stabbed parents to de@th, stabbed family dog, sent crime scene photos to friends
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