Latest News:  
Beijing   Overcast/Moderate rain    9 / 12 ℃  City Forecast

English>>China Business

Official predicts flat growth for 2013

(Xinhua)

07:51, October 27, 2012

BEIJING, Oct. 26 (Xinhua) -- Flat growth rate in the world's second largest economy in 2013 and higher inflationary pressure is the predicted outlook, a senior Chinese official said Friday.

Next year, the economy will grow at a similar rate recorded in 2011, which is projected to be slightly higher than the 7.5-percent government target, Yu Bin, director of the Macroeconomic Research Department at the Development Research Center under the State Council, or China's Cabinet, said at a press conference.

Yu estimated that China's growth may have bottomed out in the third quarter of 2012 and a slight rebound may be seen in the final three months of the year. This is due to earlier data for exports, industrial production and retail sales showing signs of improvements.

"The economy is currently in a stage of shifting to moderate growth rates somewhere between 7 percent and 8 percent from an annualized growth rate of 10.6 percent over the past ten years," the economist said.

Growth of exports and consumption, the economy's key drivers, will remain stable next year, but the investment, another growth driver, is likely to head downwards due to gloomy property, manufacturing and infrastructure construction sectors, Yu said

Meanwhile, the growth of consumer price index (CPI), the main gauge of inflation, will rise to 4 percent in 2013, Yu said. The figure is much higher than the below-3 percent rate predicted for the year.

【1】 【2】



News we recommend:
"Made in China":Charming the World "Made in China":A Boon for the Masses "Made in China":A Blessing for Businesses
"Made in China":The Bitter Blessing From 'Made in China' to 'Created in China' China's tourism industry reaps golden harvest
Remedies for economic challenges  The construction of nuclear plants Rays of hope for manufacturing

Email|Print|Comments(Editor:厉振羽、姚春)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Simulated battlefield environment drill

  2. Aircraft carrier USS George Washington docked

  3. U.S. naval vessels cruise in waters

  4. Sexy girls in China's national pole dancing team

  5. A glimpse of hard security guard training

  6. Key economic figures raise China's growth hopes

  7. Independent designers strut onto int'l catwalks

  8. Data center of Google

Most Popular

Opinions

  1. Fears that yuan rise will hit exports unfounded
  2. Tax reform crucial to stable growth
  3. No sharp decline for property prices
  4. Japan to bear consequence of breaking promise
  5. How to hard sell China's soft power
  6. Commentary: China's top spot for global FDI
  7. Commentary: Remedies for economic challenges
  8. San Francisco treaty doesn't help Japan
  9. Public angered over Chinese 'forced kowtow'
  10. Environment anger shows need for reform

What’s happening in China

Teacher abuses kids, posts photos

  1. Girls forced to sell sex, fake virginity with eel blood
  2. Hospital staff members jailed for taking bribes
  3. Pressure takes its toll on Beijingers: survey
  4. Plan to halve capital's traffic controversial
  5. Authorities gear up for poaching season