China’s economy expanded 8.9 per cent in the fourth quarter of last year, extending a slowdown that began at the start of 2011 and is expected to continue into 2012, reports the FT. “In terms of the domestic and international situation, 2012 will be a year of complexity and challenges so we should be fully prepared,” said Ma Jiantang, spokesman for China’s National Bureau of Statistics as he unveiled the latest figures for the world’s second-largest economy. The news bouyed Asian stock markets despite advancing the signs of a Chinese slowdown, erasing most of Monday’s losses, reports Bloomberg. The growth figure was higher than the expected by economists polled by Reuters and Bloomberg, whose median forecast was 8.7 per cent. Measured on a quarter-on-quarter basis, China’s growth fell much more rapidly to 8.2 per cent, notes the WSJ. Many analysts are expecting growth below 8 per cent – a level seen as crucial for maintaining employment levels – for the first quarter of 2012.

This entry was posted by Kate Mackenzie on Tuesday, January 17th, 2012 at 4:30 and is featured in The 6am Cut London (17 Jan 2012) . Tagged with Chinese economy, chinese growth. Edit this entry.