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China economic growth rate stabilises at 7.7%

China&;s economy, the world&;s second-largest, has shown signs of stabilising, as 2013&;s growth rate matched that for 2012, official data suggests. Gross domestic product (GDP) grew at an annual rate of 7.7% in the October-to-December period, down from 7.8% in the previous quarter. China is trying to maintain strong growth while rebalancing its economy. China has said it wants to move away from an investment-led growth model to one driven by domestic consumption.