GDP growth slows, but remains steady

Despite growing at the lowest rate in nearly three decades given the complicated domestic and external situation, that China's GDP growth was 6.6 percent last year highlights the resilience of the world's second-largest economy, which remains one of the fastest-growing major economies and the largest contributor to growth of the world economy.

Admittedly, on a quarterly basis, the economy grew 1.5 percent in the fourth quarter, down from the rise of 1.6 percent posted in the third quarter, and economic indicators such as industrial output, retail sales and fixed-asset investment, all weakened last year, especially in the second half, prompting concerns that the trade dispute with the United States has begun to bite.

However, considering the sheer size of the economy - over 90 trillion yuan ($13.26 trillion) - it is to be expected that its growth rate should slow after decades of nearly double-digit expansion, especially at a time when protectionism is on the rise and the country is making ongoing efforts to restructure the economy to make its growth more sustainable.