18 January 2013 03:55 [Source: ICIS news]
SINGAPORE (ICIS)--The Chinese economy grew at a faster pace of 7.9% in the fourth quarter of 2012 from 7.4% in the third, bringing the full-year average growth at 7.8%, official statistics showed on Friday.
Overall growth slackened in 2012 because of a slowdown in consumption, investments and net exports, said NBS commissioner Ma Jiantang.
China's industrial output in 2012 expanded by 10%, according to NBS.
Fixed assets investments in 2012 increased 20.6%, 3.4 percentage points slower than that in 2011, while consumption was up 14.3%, 2.8 percentage points lower from the growth recorded in the previous year.
Foreign trade, meanwhile, posted a more moderate growth of 6.2% in 2012, compared with a robust 22.5% growth in the previous year.
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