Analysis by Stephen McDonell, BBC China correspondent
the crucial question will be – who gets access to the loans?China and EU on verge of major investment dealplayThe big tech questions for 2021. VideoThe big tech questions for 2021For many countries,especially to small firms. New loans in the local currency hit a record high of $2.44 trillion (1.86tn) last year.playChinas painful year fighting Covid-19. VideoChinas painful year fighting Covid-19Australian man and child saved after friends walk 12 hours for help5Speaking in Washington,with investment growth falling to record low levels.The government has been rolling out measures over the past two years in an attempt to boost growth.But – although that 6.1% growth rate is Chinas weakest expansion in almost three decades – it is much higher than other leading economies.As part of the phase one deal,for example,the US agreed to halve some of the new tariffs it has imposed on Chinese products.The government has instigated some stimulus measures to make sure the steam doesnt come out of the economy too quickly. But on bank loans,US President Donald Trump said the pact would be transformative for the American economy.Softening domestic demand and US tariffs have eaten into growth – but some analysts argue that the trade war may have actually helped the Chinese economy.but Chinese policy makers have for years been trying to gradually step down expectations.The countrys banks have also been encouraged to lend more,having the slowest GDP growth in three decades might cause panic – but not in China.The tragedy of the tuk-tuk driver who fled CovidTheyre trying to break away from the years of unsustainable breakneck growth which has trashed the natural environment and led to an explosion in unserviceable debt.So far the economy has been slow to pick up,including tax cuts and allowing local governments to sell large amounts of bonds to fund their infrastructure programmes.In exchange,has forecast that the American economy will grow by around 2.2% this year.Covid: Sydney beach party sparks backpacker deportation threat1The country has faced weak domestic demand and the impact of the bitter trade war with the US.This 6.1% GDP figure for 2019 is not only within the governments target range,China Covid-19: How state media and censorship took on coronavirus8The government has used a combination of measures aimed at easing the slowdown,China pledged to boost US imports by $200bn above 2017 levels and strengthen intellectual property rules.Official figures show that the worlds second largest economy expanded by 6.1% in 2019 from the year before – the worst figure in 29 years.Will it be those building the bridge to nowhere vanity projects which have popped up in many regional cities?playWhen online meetings didnt go as planned. VideoWhen online meetings didnt go as plannedCoronavirus: Spain to keep registry of those who refuse Covid vaccine10Japan developing wooden satellites to cut space junk9China and EU on verge of major investment deal6The US central bank,
Or will it be the promising new start-up enterprises which are seen as the future of modern Chinese development?
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Chinas economy grew last year at the slowest pace in almost three decades.
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It comes after almost two years of trade tensions with the US – although hopes of a better relationship with America have seen improvements in manufacturing and business confidence data.
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This week Washington and Beijing signed a phase one trade deal. However, analysts remain unsure whether those recent gains will continue.
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In response to the lower growth rate, Beijing is now widely expected to roll out yet more stimulus measures.
Historically, China has seen much stronger economic expansion, with the first decade of the 21st Century seeing double-digit percentage growth.