China revises down 2014 GDP growth to 7.3 percent from 7.4 percent


China has revised its annual economic growth rate in 2014 to 7.3 percent from the previously released figure of 7.4 percent, the National Bureau of Statistics said on Monday.

Gross domestic product stood at 63.6 trillion yuan ($10.00 trillion) last year, down by 32.4 billion yuan from the initial estimate, the bureau said in a statement on its website.

The bureau has revised down 2014 growth of the services sector by 0.3 percentage points to 7.8 percent, which helped drag down estimated GDP growth rate, it said.

The primary sector – the agriculture sector – grew 4.1 percent last year, while growth of the secondary sector, which includes manufacturing and construction, rose 7.3 percent.

After the revision, the services sector accounted for 48.1 percent of GDP last year, down from the previously announced 48.2 percent, the bureau said.

The manufacturing and construction sector accounted for 42.7 percent of GDP while the farm sector accounted for 9.2 percent.

The world’s second-largest economy grew 7 percent in the first half from a year earlier – in line with the government’s target for 2015, but recent downbeat data has raised the risk the government could miss the full-year growth target.

(Reporting by Winni Zhou and Kevin Yao; Editing by Edmund Klamann and Eric)



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