China's GDP grew by 10.3 percent in 2010

Beijing, Jan 20(ANI): China's economy expanded by 10.3 percent in 2010 from a year earlier.

According to the National Bureau of Statistics (NBS), the country's economy grew by 9.8 percent in the fourth quarter from a year earlier, faster than the third quarter's 9.6 percent increase.

The growth rate was significantly above economists' expectations of a 9.2 percent rise, the Xinhua news agency reports.

"Currently the economy is in a critical period of transforming from recovery to stable growth," said Ma Jiantang, Commissioner of the National Bureau of Statistics.

Jiantang also said that China would boost efforts to transform its "economic growth pattern".

His comments echo remarks made in Washington by Chinese President Hu Jintao, who pledged to boost domestic demand and spending. (ANI)