China's Q4 GDP grew 8.9% Y/Y, the slowest growth since mid-2009, but ahead of expectations of 8.7%. For the entire year, growth clocked in at 9.2% vs. 10.4% in 2010. After a brief pop at the open, Chinese shares are back to unchanged. Other markets are hanging on to gains: Hong Kong +1.6%, Australia +1.3%. "Risk" currencies are higher as well: Euro +0.5%, aussie +0.5%.