BEIJING: China’s economy grew 7.7 percent last year, the government said yesterday, in line with expectations and the same as 2012, when it recorded its slowest expansion in 13 years.
Growth for the October-December quarter also came in at 7.7 percent, the National Bureau of Statistics (NBS) said, slowing from 7.8 percent in the previous three months.
The 2013 GDP figure was the same as the median forecast in a survey of 14 economists by AFP and as usual exceeded the government’s growth target for the year, which was declared as 7.5 percent.
Growth for the fourth quarter, meanwhile, was better than the AFP survey’s median forecast of 7.6 percent. “Generally speaking China’s economy showed good momentum of stable and moderate growth in 2013, which is (a) hard-earned achievement,” the NBS said in a statement.
“However we should keep in mind that the deep-rooted problems built up over time are yet to be solved in such a critical period for China’s economy.”
AFP
