China experiences its lowest growth in 13 years.
The rate was 7,8%, and authorities acknowledge that the uncertainties surrounding the economy in 2013 involve external markets and the domestic real estate sector.
Renata Giraldi*
Reporter from Agência Brasil
Brasilia – China’s economy grew 7,8% in 2012. Although the percentage is high, Chinese authorities reported that there was a slowdown. It was the worst rate since 1999, when it stood at 9,3% - then it rose to 10,4%. The data was released today (18) by the National Bureau of Statistics of China.
According to preliminary figures, the Gross Domestic Product (GDP) was US$8,28 trillion in 2012. Economist Wang Jun said the government increased economic stimulus last year in an effort to produce results.
In May 2012, the government eased controls over loan approvals, construction projects, and tax cuts. Retail sales also increased, rising from 14,9% in November to 15,2% in December.
Industrial production grew by 10,3% in December, a slight increase compared to November's 10,1%. Exports from China, one of Brazil's and several other countries' main economic partners, increased by 2,9%.
Authorities acknowledge that the uncertainties surrounding China's economy in 2013 involve external markets and the domestic real estate sector. The growth target for the year is 8%.
*With information from the Chinese state news agency, Xinhua.