China's economy grows 7.7% in 2013, weakest growth since 1999Updated: 2014-01-20 PM 4:27:37 (KST)
The Chinese economy grew at the slowest pace in 14 years in 2013, largely because of low growth in investment and domestic demand.
China's National Bureau of Statistics said Monday that the nation's economy grew 7.7 percent last year.
The overall growth was backed by 7.7 percent growth in the fourth quarter, an increase of 1.8 percent from the previous quarter.
While the jump surpassed China's 2013 growth target of 7.5 percent, the figure represents the country's weakest annual growth since 1999.
Analysts point out that the Chinese economy could slow further this year, as Beijing plans to shift its focus away from exports and investment to domestic spending and consumption.