Hong Kong (CNN Business) China's economic growth has slumped to its lowest level in nearly three decades as the world's second largest economy feels the effects of a prolonged trade war with the United States. And the Chinese economy will continue to face "downward pressure" in the second half of this year, the country's National Bureau of Statistics said in a statement. "The Chinese economy is still in a complex and grave situation," it said. "Global growth has slowed and external uncertainties are on the rise." Beijing and Washington recently agreed a temporary truce in their months-long trade war and are planning to restart trade talks.

Source: CNN July 15, 2019 05:49 UTC