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China's economy is growing at its slowest pace since the financial crisis

China's economic slowdown is deepening as its trade war with the United States gets worse.

Posted Updated

By
Daniel Shane
, CNN Business
(CNN) — China's economic slowdown is deepening as its trade war with the United States gets worse.

The world's second biggest economy grew 6.5% in the third quarter of this year, according to official data published Friday. That's its weakest quarterly growth since the depths of the global financial crisis in early 2009.

The Chinese economy has lost momentum this year following government efforts to try to rein in high levels of debt. It has also started coming under pressure from US tariffs on more than $250 billion of its exports.

Chinese officials have already turned to tax cuts, infrastructure spending and looser monetary policy as they seek to prop up growth.

The country's stock markets and currency have been pummeled in recent months by fears about the economy and the intensifying trade war.

This is a developing story

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