2013-01-18 (China Daily) -- China's GDP growth rebounded "significantly" in the fourth quarter of 2012 and the momentum will extend through out 2013, Ma Jiantang, head of the National Bureau of Statistics, told a news briefing on Friday.
Ma predicted that the international economic situation is still challenging in 2013, but the US economy is likely to be better than estimated. At home, driving force for mid- and long-term economic growth is not changed in 2013 while constraints in resources, environment and labor supply increased.
In this context, we should give more efforts to improve economic structure and growth model and fulfill "real GDP growth" while bring more benefits to the residents, Ma said.
GDP growth registered 7.9 percent in the fourth quarter following seven-quarter slowdown by the third quarter. The whole year of 2012 saw GDP expand 7.8 percent. Final consumption contributed 51.8 percent of GDP growth in 2012 while capital formation contributed 50.4 percent and net export of goods and services contributed -2.2 percent, Ma said.