China's gross domestic product (GDP) grew a faster-than-expected 10.3 per cent in 2010, official statistics show. GDP figures for the fourth quarter also defied expectations of a slowdown, with an increase to 9.8 per cent from 9.6 per cent recorded. But inflation eased to 4.6 per cent in December from a 28-month high of 5.1 per cent the previous month, as food price pressures eased. Inflation for 2010 was 3.3 per cent.
Analysts say the apparent easing of inflation reflected a relatively low base the year before, and that the government needs to do more. The huge sums of money pumped into the world's second largest economy by state-run banks are hindering moves to bring inflation under control, they add.
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