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China’s Economic Growth Rate at 14-Year Low
China's gross domestic product expanded at a relatively modest 7.7% in 2013, its slowest pace since 1999, according to the country's National Bureau of Statistics.
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China's gross domestic product expanded at a relatively modest 7.7% in 2013, its slowest pace since 1999, according to the country's National Bureau of Statistics.
The agency cautions that reaching 7.7% growth last year "was no small achievement" and adds that "fundamental of the economic recovery are still not stable."
Analysts predict growth of about 7.5% this year, as China's central planners implement reforms to steady the rate of expansion. The government has said it wants to shift the drivers of economic expansion from exports and government-backed infrastructure projects to domestic spending and services.
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