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January 17, 2012

China's economic growth slows to 8.9% in fourth quarter
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China's economy, the world's second-largest, grew at its slowest pace in more than two years, latest government figures show.

Gross domestic product expanded by 8.9% in the three months to the end of December, from a year earlier. That is down from 9.1% in the previous quarter.

The statistics bureau data showed that growth for the full year was 9.2%, down from 10.3% in 2010.

Analysts said they expect the economy to slow further this year.

"Looking at the rest of 2012, you are going to see an even sharper slowdown in the first quarter because of the effect of monetary tightening," said Arjuna Mahendran, chief Asia strategist at HSBC Private Bank.

"It will pick up later in the year."

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