Facebook Twitter 新浪微博 腾讯微博 Wednesday 3 June 2015
Search
Archive
English
English>>Business

China 2014 growth at 24-year low

(Xinhua)    14:44, January 20, 2015
Email|Print
A woman works at Xinyu textile company in Tai'an City, east China's Shandong Province, Oct. 18, 2014. China's gross domestic product (GDP) grew by 7.4 percent in 2014, registering the weakest expansion in 24 years, the National Bureau of Statistics said on Jan. 20, 2015. (Xinhua/Guo Xulei)

BEIJING, Jan. 20 -- China's economy grew 7.4 percent in 2014, in line with market expectations and registering the weakest expansion in 24 years, the National Bureau of Statistics (NBS) said Tuesday.

The reading was slightly below the government target of around 7.5 percent for the year, as authorities are at pains to transform the economy onto a more sustainable track while tackling a housing slowdown, softening domestic demand and weak global recovery.

Last year, the country's gross domestic product reached 63.65 trillion yuan (10.4 trillion U.S. dollars). Growth in the fourth quarter came in at 7.3 percent, flat with the rate seen in the third.

"The economy is maintaining steady operation under the new normal, with positive trends of stable growth, optimized structure, enhanced quality and improved social welfare," noted Ma Jiantang, head of the NBS at a press conference.

In 2014, China's industrial output grew 8.3 percent, down from the 9.7-percent growth seen in 2013, while growth of China's fixed-asset investment slowed to 15.7 percent. Retail sales went up 12 percent to 26.24 trillion yuan, the NBS data showed.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)
(Editor:Liang Jun,Huang Jin)

Add your comment

Most Viewed

Day|Week

Hot News

We Recommend

Photos

prev next