China's economic growth slowed more than expected to the weakest pace since the first quarter of 2009, as the country's trade war with the US puts pressure on growth, according to official data released on Friday.
Kelvin Tay, Regional Chief Investment Officer at UBS Global Wealth Management, said the slowdown in Chinese growth is not surprising.
"China can not grow at 6.6-6.7 percent every quarter because of the fact that they are starting to reduce debt and also that you have a trade dispute with the Americans," he told CNBC's "Street Signs." After the publication of GDP data
In addition to recent GDP figures, China also released a number of other economic data:
- Industrial production for September grew 5.8 percent year on year, with expectations of an expansion of Reuters 6 percent missing
- Retail sales in September Compared to the same month last year, Reuters raised prices by 9.2 percent, an increase of 9 percent.
- Fixed asset investment increased by 5.4 percent from January to September, compared to 5.3 percent growth from Reuters  even though Beijing's official GDP figures are being tracked as the health indicator of the world's second largest economy, Many outside experts are skeptical about the veracity of the Chinese reports.
Nevertheless, all signals about growth are closely watched by China's trade dispute with the US, while the two economic superpowers are hitting opposing tariffs on each other's goods.