China's economic growth eased in the fourth quarter amid slower gains in industrial production, investment and retail sales, suggesting that the recovery is yet to attain a firm footing, data released by the National Bureau of Statistics showed Monday.

In the whole year of 2013, the GDP grew 7.7 percent, the same pace as in 2012, which was the slowest since 1999.

The gross domestic product grew 7.7 percent year-on-year in the fourth quarter of 2013, following a 7.8 percent gain in the third quarter. This was slightly better than the 7.6 percent growth expected.

On a quarterly basis, the GDP expanded 1.8 percent in the third quarter.

Separately, the statistical office reported that China's industrial production grew 9.7 percent year-on-year in December compared with an expected 9.8 percent gain and slower than a 10 percent growth reported in November.

In 2013 as a whole, industrial production grew 9.7 percent compared with 2012.

China's retail sales grew 13.6 percent annually last month in line with expectations. In November, sales recorded a 13.7 percent increase. Retail sales rose 13.1 percent for the full year of 2013.

The country's fixed asset investment increased 19.6 percent in the year ending December, slightly slower than the 19.8 percent increase forecast by economists.

The slowdown largely reflects China's efforts to contain rapid, unsustainable levels of growth experienced in the past decade by restructuring the economy. Despite the moderation in growth, Beijing has pledged to press ahead with the reforms.

At the Economic Work Conference held in Beijing last year, leaders said the government should seek a "reasonable" growth for the economy. They called for short-term measures and a long-term mechanism to defuse the local government debt risks and slash industrial overcapacity.

Moreover, China's clampdown on credit growth as well as measures to curb property market prices have also suppressed investment which, in turn, darken the economy's growth outlook.

However, the prospect for external trade appeared brighter with economic conditions in advanced economies improving. Data from the General Administration of Customs revealed earlier this month that China has surpassed the U.S. as the world's biggest trading nation last year.

The data showed that the country's total annual trade in goods topped $4 trillion for the first time last year. Exports recorded a growth of 7.9 percent in 2013 compared with 2012. Imports rose 7.3 percent and the trade surplus for the year amounted to $259.75 billion.

The NBS today reported that house prices increased in 65 of 70 cities monitored by the government in December on a monthly basis. In annual terms, prices increased in 69 cities.

RTTNews