Mainland Growth Slows But Faster Than Expected

China's economy grew 4.0 percent in the fourth quarter from a year earlier, faster than expected but its weakest expansion in one-and-half years, National Bureau of Statistics data showed on Monday.

Gross domestic product (GDP) had been forecast to expand 3.6 percent from a year earlier, according to a Reuters poll of analysts, slowing from 4.9 percent in the third quarter.

GDP grew 8.1 percent in 2021, the data showed, faster than 8.0 percent expected by analysts.

On a quarter-on-quarter basis, GDP rose 1.6 percent in October-December, compared with expectations for a 1.1 percent rise and a revised 0.7 percent gain in the previous quarter.

China's economy got off to a strong start in 2021 as activity rebounded from a pandemic-induced slump the previous year, but it has lost steam due to a property downturn, debt curbs and strict Covid-19 curbs which have hit consumption.

Mainland leaders have pledged more support for the economy, which is facing multiple headwinds into 2022. (Reuters)