China's Economic Growth Decelerates in 2011

China's economic growth is showing signs of slowing down. Its economy expanded 9.2 percent in 2011 from a year earlier, and 8.9 percent year on year in the fourth quarter of last year, according to the National Bureau of Statistics.

 

[Ma Jiantang, Chief of National Bureau of Statistics]:

"The quarter-on-quarter slowdown of GDP growth in 2011 is consistent with our macro-economic regulation now in place."

 

The quarterly growth was the slowest in 10 quarters. China has set the full-year growth target at eight percent in early 2011, after its economy grew 10.3 percent in 2010.

 

Ma says 2012 will be a challenging year.

 

[Ma Jiantang, Chief of National Bureau of Statistics]:

"2012 is going to be a year of great challenges as for the economic development, and we should strengthen our awareness of any eventualities."

 

According to preliminary statistics, the country's GDP reached $7.26-trillion U.S. dollars in 2011.