China's 2012 growth the lowest in more than a decade

Beijing - China's economy grew 7.8 per cent last year, the National Bureau of Statistics said Friday, with weak demand leading to the lowest annual growth recorded since 1999 for the world's second-largest economy.

The government had forecast full-year growth of 7.5 per cent, a projection it cut from 8 per cent in early 2012. Growth targets are usually set conservatively in China and are usually exceeded by around 1 or 2 per centage points.

Growth quickened in the fourth quarter to 7.9 per cent following government stimulus measures. It had reached a low of 7.4 per cent inthe third quarter.

Gross domestic product grew 9.3 per cent in 2011 and 10.4 per cent in 2010.//DPA