China economy grew 7.8% in 2012: Government
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In this Jan 17, 2013 photo, a man walks outside a construction site of a residential real estate project in Beijing, China. The Chinese economy expanded 7.8 per cent in 2012, the government said on Friday, as annual growth slowed for a second straight year in the face of weakness at home and in key overseas markets. -- PHOTO: AP
BEIJING (AFP) - The Chinese economy expanded 7.8 per cent in 2012, the government said on Friday, as annual growth slowed for a second straight year in the face of weakness at home and in key overseas markets.
But gross domestic product (GDP) grew 7.9 per cent in the final three months of the year, the National Bureau of Statistics (NBS) said, as it snapped seven straight quarters of slowing growth.
China's GDP reached 51.9 trillion yuan (S$10.1 trillion) in 2012, cementing its position as the world's second-largest economy after the United States.
Economists surveyed by AFP had projected GDP growth of 7.7 per cent in 2012 and 7.8 percent in the fourth quarter.
