According to latest government figures the world’s second-largest economy has grown at its slowest pace in over two years. China’s GDP grew by 8.9% in the last three months, which is down from 9.1% of the last quarter. For 2011 the statistics bureau data indicates that growth was at 9.2%, while in 2010 it was 10.3%. Analysts expect the economy to experience an even sharper slowdown due to monetary tightening in the first quarter of the year; however, it is said to “pick up later in the year.” Moreover, due to the fact that the Chinese economy has been one of the fastest-growing over the past few years, the government has implemented stimulus measures to slow the growth to more manageable levels. Domestic factors are not the only thing slowing the growth, however. Export demand from Europe and the US has also decreased, thus leading to a decrease in the output from factories.
Aleksandra Ruseva
http://www.bbc.co.uk/news/business-16588410
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