China's 2018 annual GDP growth rate dropped to 6.6%, the lowest ever in 28 years. In the fourth quarter of 2018, the annual growth rate of GDP slowed down to 6.4%, mainly due to the US-China trade conflicts, the central government’s pressure on domestic and local governments for debt reduction, and slowdown in domestic demand growth. On the whole, the economic impact of the US-China trade war on China has indeed surfaced.