The Chinese economy expanded 7.8% in 2012, the government has said, the worst performance in 13 years, in the face of weakness at home and in key overseas markets.
But gross domestic product (GDP) grew 7.9% in the final three months of the year, the National Bureau of Statistics (NBS) said, as it snapped seven straight quarters of slowing growth in a positive sign for the spluttering global recovery.
China’s GDP reached $8.28 trillion in 2012, cementing its position as the world’s second-largest economy after the US.
Annual growth slowed for a second straight year but the figures were just ahead of expectations, with economists surveyed by the AFP news agency having projected GDP growth of 7.7 % in 2012, and 7.8% in the fourth quarter.
The official statistics come as optimism grows among analysts that China will pick up steam in 2013 after two years of relative weakness.
“The international economic environment remains complicated this year and… there are still unbalanced conflicts in the Chinese economy,” NBS spokesman Ma Jiantang told reporters.
However, Ma added: “We expect China’s economy to continue to grow in a stable manner in 2013.”
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