China’s economy grew 8.1% in 2021 but slowed in second half

China’s economy expanded by 8.1% in 2021 but Beijing faces pressure to shore up activity after an abrupt slump in the second half as the ruling Communist Party forced its vast real estate industry to cut surging debt.

Growth in the world’s second-largest economy sank to 4% over a year earlier in the final three months of 2021, government data showed Monday. That was down from the previous quarter’s 4.9% and an eye-popping 18.3% in the first three months of 2021.