2021: China's GDP growth beats expectations with 8.1 percent, fastest in 10 years
China's gross domestic product (GDP) grew by 8.1 percent last year, the largest jump since 2011,
data from the National Bureau of Statistics (NBS) showed on Monday.
The expansion is slightly above the IMF and World Bank's expectations of 8-percent growth and beyond the 6-percent target set by the government.
Facing challenges brought by the pandemic, China has seen its economic activities cool down after a strong rebound in the first half of 2021.
From October to December, the country's economy grew by 4 percent from a year earlier, a further deceleration from the 18.3-percent jump in the first quarter, according to NBS.
Despite beating Reuters' forecast of 3.6-percent and Bloomberg's 3.3-percent, the fourth-quarter pace was still the weakest in one and a half years, leaving room for speculation on further monetary stimulus.
尽管第四季度经济增速超过了路透社(Reuters) 3.6%和彭博社(Bloomberg) 3.3%的预期，但仍是一年半以来的最低水平，这为进一步货币刺激的猜测留下了空间。
To counter the slowing economic growth, China cut its reserve requirement ratio by 50 basis points in December.
The cut, the second such move of the year, would release 1.2 trillion yuan ($190 billion) in long-term liquidity, said People's Bank of China (PBOC) at the time.
Also, China lowered its one-year loan prime rate (LPR) in December and cut the rate of 700 billion yuan's worth of one-year medium-term lending facility (MLF) loans to some financial institutions on Monday.
Both rates had not changed since April 2020.
In the meantime, the country pledged to safeguard macroeconomic stability and keep major economic indicators within an appropriate range in 2022, according to the annual Central Economic Work Conference at the end of last year.