China's exports and imports took a hit last year owing to weak demand at home and abroad, adding to weakness in the economy, which has also been buffeted by a property crisis
AFP

China's fourth-quarter GDP missed estimates on Wednesday as it was battered by a property crisis, sluggish consumption and global uncertainties.

GDP for the October-December quarter rose 5.2%, data from China's National Bureau of Statistics showed. Economists polled by Reuters had expected 5.3% growth.

Full-year GDP growth also came in at 5.2%, its lowest rate since 1990, excluding the Covid-19 pandemic years.

The world's second-largest economy resumed reporting unemployment rate for young people. The National Bureau of Statistics had suspended releasing the data on people in the 16-24 age group in summer to reassess calculation methods. That unemployment rate had climbed to records above 20%.

According to the latest release, the unemployment for young people, excluding those still in school, was 14.9% in December. It was 5.1% in cities.

China has been battered by a property sector that has lost trust with consumers, a fall in exports and retail sales and by U.S. companies trying to diversify their supply chains under the "China Plus One" strategy.