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China GDP growth slows to 4.0% in Q4 amid COVID, property woes

Slowest pace since second quarter of 2020 holds full-year result to 8.1%

A car seat assembly line in Shanghai: China saw external demand rebound in 2021 but COVID-19 and troubled property developers held the economy back.   © Reuters

SHANGHAI -- China's gross domestic product growth slowed to 4.0% on the year in the fourth quarter of 2021, delivering a full-year result of 8.1%, as a COVID-19 resurgence and a real estate downturn combined to restrain economic momentum.

The figures, announced on Monday by the National Bureau of Statistics, beat the average forecasts of 3.3% for the quarter and 7.9% for the year in a Nikkei poll of economists released last month.

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