China's economy grew at a slower pace in the fourth quarter of 2021 amid weak property investment and new restrictions imposed at the end of the year to control the spread of coronavirus.
As the economy registered a slower growth, the central bank lowered its lending rates for the first time since 2020 and boosted liquidity.
In the fourth quarter, gross domestic product grew 4.0 percent on a yearly basis, slower than the 4.9 percent expansion posted in the preceding quarter, data from the National Bureau of Statistics showed Monday. However, the pace of growth was bigger than the economists' forecast of 3.6 percent. On a quarterly basis, GDP advanced 1.6 percent versus the expected growth of 1.1 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.