China's growth slows to 7.5% in Q2

 China's annual economic growth has slowed down to 7.5 percent in the second quarter of 2013 from 7.7 percent in the first three months of the year.

This has been the second straight quarter of slower growth. The data was released at a news conference of China's National Information Office, which released China's economic performance of the first half of 2013, which saw an overall growth rate of 7.6 percent.

Official data also showed that export growth in the second quarter weakened by 8 percent compared with the first quarter. Resident income, market sales, investments of fixed assets, industrial and agricultural production all enjoyed steady growth.

China's CPI saw a growth of 2.4 percent, dropping by 0.9 percent compared with the same period last year.

A spokesperson says China is implementing proactive fiscal and steady monetary policies to smooth the economy's restructuring process and improve the quality of China's economy.