China 2013 GDP grows 7.7%: government

China's economy grew 7.7 per cent last year, the government said on Monday, in line with expectations and the same as 2012, when it recorded its slowest expansion in 13 years. -- FILE PHOTO: REUTERS
China's economy grew 7.7 per cent last year, the government said on Monday, in line with expectations and the same as 2012, when it recorded its slowest expansion in 13 years. -- FILE PHOTO: REUTERS

BEIJING (AFP) - China's economy grew 7.7 per cent last year, the government said on Monday, 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 per cent, the National Bureau of Statistics (NBS) said, slowing from 7.8 per cent 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 per cent.

Growth for the fourth quarter, meanwhile, was better than the AFP survey’s median forecast of 7.6 per cent.

“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.”

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