Arab Today, arab today china confirms slowest economic growth for 13 years
Last Updated : GMT 17:03:41
Arab Today, arab today
Arab Today, arab today

Officials: Positive end to 2012 cause for optimism

China confirms slowest economic growth for 13 years

Arab Today, arab today

Arab Today, arab today China confirms slowest economic growth for 13 years

China remains the world's second biggest economy, behind USA
Beijing - Arabstoday

China remains the world\'s second biggest economy, behind USA China\'s economy grew at its slowest pace in 13 years in 2012, the government said Friday, but an uptick in the final quarter pointed to better news ahead for a prime driver of the tepid global recovery. Gross domestic product (GDP) in the world\'s second-largest economy expanded 7.8 percent last year in the face of weakness at home and in key overseas markets, the National Bureau of Statistics (NBS) announced.
But it grew 7.9 percent in the final three months of 2012 as industrial production and retail sales growth strengthened at the end of the year, snapping seven straight quarters of slowing growth in a positive sign for the spluttering world economy.
The official statistics come as optimism grows among analysts that China will pick up steam in 2013 after two years of relative weakness, although they - and the government - caution that the improvement will not be dramatic.
\"The international economic environment remains complicated this year and... there are still unbalanced conflicts in the Chinese economy,\" NBS spokesman Ma Jiantang told reporters.
Still, Ma added: \"We expect China\'s economy to continue to grow in a stable manner in 2013.\"
Chinese stocks rose on the figures, with the Shanghai Composite Index up 0.66 percent in afternoon trading.
The slowdown in annual growth was the second in a row and marked its lowest point since 1999, when it stood at 7.6 percent, according to official statistics.
China has had to contend with weakness in the global economy, particularly the key export markets of the United States and Europe, and as the government took steps to cool a once red hot property market.
But its growth rate remains the highest among leading economies. GDP reached 51.9 trillion yuan ($8.28 trillion) in 2012, further cementing its position as the world\'s number two economy behind the United States.
The GDP figures were just ahead of expectations, with economists surveyed by AFP having projected growth of 7.7 percent in 2012 and 7.8 percent in the fourth quarter, and anticipating acceleration to 8.0 percent this year.
IHS Global Insight senior economist Ren Xianfang said the worst was probably over for China and while it had avoided a \"hard landing\", challenges remained as it entered a \"new normal\" of slower growth.
\"The rebound by itself looks quite shaky,\" she wrote in a report after the data. \"The trajectory of recovery is flat, mirroring the shallow downturn it\'s rebounding from.\"
Growth had slowed for seven straight quarters through September, when the economy expanded 7.4 percent, the worst since early 2009. Annual GDP grew 9.3 percent in 2011 and 10.4 percent in 2010.
Successfully managing the economy is a key concern for China\'s leaders, who derive much of their claims to legitimacy from the country\'s reform-led economic rise, which has lifted hundreds of millions of people out of poverty over the past three decades.
The government is due to formally conclude a once-in-a-decade power handover in March with Xi Jinping, already named Communist Party chief, becoming president and Li Keqiang taking over as premier in charge of day-to-day administration.
The country\'s economy is widely seen as having matured to the point where the growth model of the past, including public spending for big ticket infrastructure projects, must be modified.
Zhang Zhiwei, China economist for Nomura International in Hong Kong, told AFP: \"The data showed that the recovery is on track, but in the meantime inflation is picking up.
\"So monetary policy will likely be tightened this year, with no chances of cuts in banks\' reserve requirements or interest rates. As a result, GDP growth may slow down in the second half of this year.\"
The statistics bureau also released other key indicators Friday.
Industrial production grew 10.0 percent in 2012, with retail sales, China\'s main gauge of consumer spending, increasing 14.3 percent.
Fixed-asset investment, a key measure of government spending on infrastructure, expanded 20.6 percent to 36.5 trillion yuan in the year -- equivalent to just over 70 percent of GDP.

Source: AFP

arabstoday
arabstoday

GMT 13:23 2017 Monday ,25 September

ABB to acquire GE Industrial Solutions

GMT 10:32 2017 Monday ,25 September

China rust belt opens door wider to foreign investors

GMT 15:23 2017 Sunday ,24 September

Saudi Arabia to include low-cost Flyadeal

GMT 08:17 2017 Sunday ,24 September

Brexit weighs heavy at Irish farming fair

GMT 08:07 2017 Sunday ,24 September

Petrol prices pumped up in Pyongyang

GMT 08:45 2017 Saturday ,23 September

Russia keen on more OPEC cooperation
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china confirms slowest economic growth for 13 years Arab Today, arab today china confirms slowest economic growth for 13 years

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china confirms slowest economic growth for 13 years Arab Today, arab today china confirms slowest economic growth for 13 years

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday