BEIJING - China's economy expanded 9.2 percent in 2011 from a year earlier, and 8.9 percent year on year in the fourth quarter, the National Bureau of Statistics (NBS) said Tuesday.
The quarterly growth was the slowest in 10 quarters. China set the full-year growth target at 8 percent in early 2011, after its economy grew 10.4 percent in 2010.
The country's economy expanded 2 percent in the fourth quarter on a quarterly basis, NBS chief Ma Jiantang said at a press conference.
The economy grew 9.1 percent year-on-year in the third quarter of 2011, compared to 9.5 percent in the second quarter and 9.7 percent in the first quarter.
According to preliminary statistics, the country's GDP reached 47.16 trillion yuan ($7.26 trillion) in 2011, Ma said.
He said the country's economic performance in 2011 was "a good start" for the 12th Five-Year Plan (2011-2015) period and is in line with macroeconomic regulations.
The NBS chief said the country faces a highly complicated external environment in 2012, as the economies of the European Union and the United States remain sluggish, the global financial market is experiencing turbulence and protectionism is on the rise.
There are also a number of domestic risks, including mid- and long-term upward price pressures and funding shortages for small businesses, as well as structural changes intended to enhance energy-saving and emission reduction, he added.
"Although GDP growth fell on a quarterly basis, it was within a reasonable range and the country's economic fundamentals were not changed. We have confidence for 2012's growth," said Ma.
He said the country's urbanization process, development of its market economy and industrialization have provided exhaustive forces for growth.
NBS data showed China's industrial value-added output growth decelerated in 2011 from a year earlier to 13.9 percent year-on-year. The country's fixed-asset investment, a measure of government spending on infrastructure, rose 23.8 percent year-on-year.
Retail sales, a key indicator of consumer spending, rose 18.1 percent year-on-year in December 2011, up from the 17.3-percent growth seen in November.
"The figures are very impressive amid complicated international and domestic situations," Ma said.
Ma's comments were echoed by Zhang Xiaojing, a researcher with the Chinese Academy of Social Sciences, a government think tank. Zhang said the slowdown was a result of macroeconomic controls and sluggish external demand.
"Since the country's inflation has eased, the government has more room to fine-tune its macroeconomic policies in the future. Authorities could continue to implement structural tax reduction to change the country's economic structure and improve livelihoods," said Zhang.
A December inflation decrease has fueled widespread guesses about possible policy loosening to spur the slowing economy, although analysts believe that significant easing is unlikely, since inflationary pressures still remain.
The full-year inflation figure for 2011 was still up 5.4 percent from the previous year and well above the government's full-year control target of 4 percent, according to the NBS.
China's fixed-asset investment rose 23.8 percent year-on-year to 30.1933 trillion yuan ($4.7736 trillion) in 2011, the National Bureau of Statistics (NBS) said on Tuesday.
The growth rate was down 0.7 percentage points compared to that in the first 11 months, and remained flat from that of last year, NBS figures showed.
On a monthly basis, fixed-asset investments fell 0.14 percent in December, the NBS said.
In 2011, investment in the primary industry amounted to 679.2 billion yuan, up 25 percent; that in the secondary industry totaled 13.2263 trillion yuan, up 27.3 percent; investment in the tertiary industry rose 21.1 percent to hit 16.2877 trillion yuan.
Investment made by the state-owned and state-controlled enterprises increased 11.1 percent year-on-year to hit 10.7486 trillion yuan last year.
Infrastructure investment, excluding investments in the production and supply of power, gas and water, rose 5.9 percent year-on-year to 5.106 trillion yuan. But the rise was 14.3 percentage points lower than that of last year.
Investment in the nation's western regions grew fastest last year, up 29.2 percent year-on-year, followed by 28.8 percent in the central regions, and 21.3 percent in the eastern regions.
Meanwhile, investment in the nation's property sector rose 27.9 percent year-on-year to 6.174 trillion yuan, down 4.1 percentage points from that in the first three quarters and 5.3 percentage points from last year.
China's industrial value-added output up 13.9%
China's industrial value-added output growth decelerated in 2011 from a year earlier to 13.9 percent year-on-year, the National Bureau of Statistics (NBS) said at a press conference Tuesday.
The full-year figure was down 1.8 percentage points from the growth rate of 2010, according to Ma Jiantang, chief of the NBS.
In December, the industrial value-added output was up 12.8 percent from a year earlier. On a monthly basis, industrial value-added output increased by 1.1 percent, said Ma.
Industrial value-added output measures the final output value of industrial production, or the value of gross industrial output minus intermediate input, such as raw materials and labor costs.
China's industrial profits grew 24.4 percent year-on-year to 4.66 trillion yuan in the first 11 months of 2011, according to the NBS.
Industrial value-added output increased 11.7 percent in China's eastern regions, by 18.2 percent in central areas and by 16.8 percent in western parts of the country.
For heavy industries, industrial value-added output in 2011 was up 14.3 percent year-on-year, and that for light industries climbed 13 percent.
China's economy expanded by 9.2 percent in 2011 from a year earlier and 8.9 percent year-on-year in the fourth quarter.
China's retail sales up 18.1% in Dec
China's retail sales rose 18.1 percent year on year in December 2011, accelerating from the 17.3 percent growth in November, the National Bureau of Statistics (NBS) said Tuesday.
Retail sales in 2011 increased 17.1 percent year-on-year to 18.1 trillion yuan ($2.9 trillion), slower than 18.4 percent growth in 2010, the NBS said in a statement.
After deducting inflation, retail sales growth in real terms was 13.8 percent in December and 11.6 percent in 2011.
On a monthly basis, retail sales grew 1.41 percent in December from November.
China's consumer price index (CPI) rose 5.4 percent year-on-year in 2011.
Retail sales growth of automobiles slowed sharply to 14.6 percent in 2011, down 20.2 percentage points from a year earlier, the statement said.
In 2011, urban retail sales increased 17.2 percent year-on-year to 15.7 trillion yuan, while rural retail sales climbed 16.7 percent to hit 2.4 trillion yuan.
Catering sector sales were up 16.9 percent year-on-year while commodity retail sales grew 17.2 percent.
Sales of home appliances and audiovisual equipment climbed 21.6 percent in 2011 and that of furniture rose 32.8 percent, according to the statement.
Chinese urban residents' per capita income grows 8.4% in 2011
The per capita income of China's urban residents rose 8.4 percent, after deducting inflation, to 21,810 yuan ($3,434) in 2011 from a year earlier, the National Bureau of Statistics (NBS) said at a press conference Tuesday.
Meanwhile, the per capita income of rural residents grew by 11.4 percent year-on-year to 6,977 yuan, faster than the previous year, according to Ma Jiantang, director of the NBS.
China's consumer price index rose 5.4 percent from the previous year, well above the government's full-year control target of 4 percent, according to the NBS last week.
The population of migrant workers last year reached 252.78 million, an increase of 4.4 percent, or 10.55 million from the 2010 level, said Ma.
China's property investment up 27.9% in 2011
Investment in China's property sector rose 27.9 percent in 2011 from a year earlier to 6.174 trillion yuan ($972 billion), said Ma Jiantang, chief of the National Bureau of Statistics (NBS), at a press conference Tuesday.
Full-year investment in residential housing registered an increase of 30.2 percent from the same period the year before, down 2.6 percentage points from 2010.
Sales of commercial housing rose 4.9 percent to 1.1 billion square meters in 2011, down 8 percentage points from that of the first three quarters of 2011 and 5.7 percentage points from that of 2010, said Ma.
Commercial housing sales volume climbed 12.1 percent to 5.9 trillion yuan in 2011, down 6.8 percentage points from 2010, according to the NBS.
A total of 271.94 million square meters of commercial housing were held for sale, up 26.1 percent year-on-year, said Ma. The figure surged 18 percentage points from the previous year.