(Beijing) – China's economy officially expanded by 6.9 percent last year, the lowest figure in 25 years.

The country had a GDP of 67.67 trillion yuan in 2015, the National Bureau of Statistics reported on January 19. The increase was broadly in line with the government's target of about 7 percent.

The economy grew 6.8 percent larger in the fourth quarter than it was in the same period of 2014, shy of the 6.9 percent average of predictions by 13 economists who were surveyed by Caixin.

The growth rates of the first and second quarters of last year were 7 percent, the official data show. The figure for the third quarter was 6.9 percent.

Zhu He, an economic analyst for Caixin Insight Group, said the slower economic growth was due to lower levels of investment.

Fixed-asset investment in urban areas rose by 10 percent last year from a year earlier, the official data showed, the weakest increase since 2000.

The official data showed that China had a trade surplus of 3.69 trillion yuan last year. The total value of all trade stood at 24.59 trillion yuan, 7 percent less than in 2014. Exports fell by 1.8 percent to 14.14 trillion yuan, while imports tumbled 13.2 percent to 10.45 trillion yuan.

Major economic indicators slowed in December 2015. Retail sales grew by 11.1 percent, 0.1 percentage points less than in November. Industrial production increased by 5.9 percent, short of November's 6.2 percent.

The data also show a shift in the structure of the economy, as the service sector for the first time accounted for more than half of the economy last year.

The statistics bureau said that the government's focus in 2016 will be on "supply-side reforms." The catchphrase, embraced by authorities at a key economic conference late last year, includes boosting the efficiency and competitiveness of the manufacture and service industries.

(Rewritten by Chen Na)