Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Eugene Hoshiko/AP/Press Association Images
China

Chinese economic growth slows in final quarter of 2011

Only 8.9 per cent growth in the fourth quarter of last year – a two year low.

CHINA’S ECONOMIC GROWTH slowed in the final quarter of 2011 to its lowest rate in two-and-half-years as US and European consumer demand plunged and Beijing fought inflation.

The world’s second-largest economy grew by 8.9 per cent in the three months ending in December, data showed earlier today. It was the slowest expansion since the second quarter of 2009, when the economy grew 7.9 per cent.

For the full year, the economy grew 9.2 per cent, down from 2010′s blistering 10.3 per cent after communist leaders tightened lending and investment curbs to prevent overheating and inflation.

Hit by an abrupt plunge in Western consumer demand, regulators reversed course in late 2011 and tried to prop up growth by promising more bank lending to help struggling exporters and avert job losses and the threat of unrest.

Also in 2011, China’s urban population exceeded the number of rural dwellers for the first time, rising to 51.3 percent of the nation’s 1.3 billion people, the National Bureau of Statistics announced.

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Author
Associated Foreign Press
Your Voice
Readers Comments
6
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.