China's 2018 growth slows to 28-year low, more stimulus, tax cuts expected

Fourth-quarter gross domestic product grew at the slowest pace since the global financial crisis, easing to 6.4 percent on-year as expected from 6.5 percent in the third quarter

China's economy cooled in the fourth quarter under pressure from faltering domestic demand and bruising U.S. tariffs, dragging 2018 growth to the lowest in nearly three decades and pressuring Beijing to roll out more stimulus to avert a sharper slowdown.

Growing signs of weakness in China -- which has generated nearly a third of global growth in recent years -- are fueling anxiety about risks to the world economy and are weighing on profits for firms ranging from Apple to big carmakers.

Policymakers have pledged more support this year to reduce the risk of massive job losses, but have ruled out a