China's National Bureau of Statistics revised its data downwards GDP in 2014 going from +7,4% to +7,3%. The downward revision provided by the Beijing statistical institute indicates that the gross domestic product of China it was 63,61 trillion yuan ($10 trillion), down 32,4 billion yuan.
For the Chinese economy, this is the lowest growth rate since 1990. The Beijing government attributes the decline "to a slowdown in construction, a weakening of domestic demand and the difficulties of exports". Behind the revision is a lower performance of the services sector, whose GDP was cut from 8,1 to 7,8% for the past year. In the first half of this year, China's GDP slows down again compared to last year with growth stopping at 7%.
The data revised downwards on China's GDP sends a knockout Shanghai Stock Exchange with the Composite index dropping 1,2%. The changes relating to the other Asian lists are insignificant: Hong Kong drops 0,5%, Seoul 0,25%. Only Tokyo closes positively (+0,4%).
