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Sunday, January 20, 2013

The Chinese economy grew by 7.8%, the lowest rise in 10 years

The economy China grew by 7.8% in 2012 the slowest growth in a decade, with a rise in gross domestic product (GDP) of 7.9% in the fourth quarter, as announced by the National Bureau of Statistics. The figure is well below the 9.3% growth recorded the second largest economy in 2011, and even more far reaching 10.4% in 2010. However, it is above the 7.5% growth posted by the communist regime during the Popular Assembly of March last year, so analysts believe that paves the way for this year is restored. "Above all, the economy has been estabilizand or "Bureau said in a statement released Friday. That institution said that the slowdown in growth occurred in a context of "fear overseas and domestic affliction", referring to the debt crisis that still trail their European and U.S. partners and their effect in China. Almost simultaneously, the Bureau reported that GDP grew 7.9% in the fourth quarter, boosted by government stimulus measures, which ended with the trend of decline in the seven previous quarters. In 2012, the GDP reached 51.93 trillion yuan (8.28 trillion U.S. dollars, 6.19 billion euros). Moreover, the Bureau also announced, including the figures of China's industrial output, which slowed its growth to 10% in 2012, 3.9 percentage points below the rate achieved in 2011. Also, retail sales recorded a rise of 15.2% in December , compared with 14.9% in November, marking a rise of 14.3% in end-2012, still 2.8 percentage points below 2011, told the official said. Instead, the Chinese investment in the property sector rose 16.2% in 2012 compared to the previous year, despite a government campaign to deflate the housing bubble. Real estate is the most important of the Chinese economy, contributing over 10% of total GDP calculation. Prior to the publication of these figures, the main Chinese stock markets opened optimistic, with the Shanghai Stock Exchange up 0.48% and Hong Kong rising by 0.73 in the opening session.

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The UN has warned on Thursday of " serious risk of a renewed recession " if nothing is done to stem the rise in unemployment in the world, and kept its downward revision of economic growth forecasts in 2013 and 2014. The agency expressed concern about the state of the major developing economies such as China , which "face a weakening investment demand due to financial constraints in some sectors of the economy and because of excess production capacity other ".

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