China 2012 growth revised down to 7.7%

China's statistics authority on Monday lowered the country's growth rate for 2012 to 7.7 percent based on its preliminary verification. According to Xinhua, the revised gross domestic product (GDP) came in at 51.89 trillion yuan (8.41 trillion U.S. dollars), down 38 billion yuan from the preliminary calculation figure that put the annual rate at 7.8 percent, the National Bureau of Statistics (NBS) said in a statement. Primary industries took up a 10.1-percent share in the GDP structure, while the secondary and tertiary sectors accounted for 45.3 percent and 44.6 percent, respectively, remaining unchanged from the preliminary calculation. The NBS calculates each year's GDP three times -- preliminary calculation, preliminary verification and final verification that is due several months later.