China’s economy slowed in the fourth quarter last year, highlighting the challenge facing Beijing as it attempts to keep growth on track, thus creating sufficient jobs, while implementing painful reforms.
Gross domestic product in the world’s second-largest economy expanded 7.7 per cent in the fourth quarter compared with the same period a year earlier – a slowing from 7.8 per cent growth in the third quarter, according to figures released by the government on Monday.
Growth of 7.7 per cent for the whole of 2013 matched the full-year growth rate in 2012, thanks in large part to an investment-heavy “mini-stimulus” in the third quarter last year that delivered a temporary filip.
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