The world’s second largest economy grew 7.7 percent in 2013, the same rise as 2012. It beat the government’s official growth target of 7 and a half percent, set at the start of 2013. Looking at the quarters, the pace of growth eased to 7.7 percent between October and December, slightly down from 7.8 percent in the third quarter, but above market expectations.
Other key economic indicators, such as industrial output and retail sales for December, and annual fixed-asset investment, all show steady growth. Growth in disposable income for urban residents outstripped inflation, while the wealth gap between rural and urban residents narrowed - both factors that bode well for the government’s attempts to boost domestic consumption.
Source: CCTV
