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China's GDP growth to slow to 8.5% in 2012

Feb. 24, 2012 (China Knowledge) - China's gross domestic product (GDP) is expected to slow to 8.5% this year, due to global economic uncertainty, said Li Wei, director of the Development Research Center of the State Council.

As the export growth slows down and decline in domestic investment, China's fixed-asset investment may be affected adversely, Li added.  

Wang Yiming, vice director of the National Development and Reform Commission's macroeconomic research institute, noted domestic demand would help to maintain a stable economic growth in China this year, adding that the country must increase the quality of development.

In 2011, China's GDP increased 9.2% to RMB 47.16 trillion, of which RMB 4.77 million was contributed by the primary industry, up 4.5% from a year earlier.

About RMB 22.06 trillion and RMB 20.33 trillion was derived from the secondary industry and the tertiary industry last year, reflecting an increase of 10.6% and 8.9%, respectively, according to the National Bureau of Statistics.

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