Latest News:  
Beijing   Overcast/Cloudy    13 / 5 ℃  City Forecast

English>>Business

China's economy to expand by 8.4% in Q4: report

(Xinhua)

08:28, November 26, 2012

BEIJING, Nov. 25 (Xinhua) -- China's economic growth will pick up in the fourth quarter after slowing for seven consecutive quarters, due to booming domestic consumption and increasing infrastructure investment, according to a report released Sunday.

The economy is expected to grow by 8.4 percent year on year in the October-December period, up from the 7.4-percent growth seen in the third quarter, the lowest level since the first quarter of 2009, according to the report released by the Institute of Economic Research of Renmin University of China.

The report also forecast that the full-year economic growth will reach 8 percent in 2012, down 1.3 percentage points from 2011.

Liu Yuanchun, deputy director of the institute, said the country's current economic slowdown is different from the financial crises seen in the 1997-1998 and 2008-2009 periods, as there are no signs of mass unemployment nor deflation although the economic growth has fallen for consecutive months.

Liu said he expects the country's economy to expand quarter on quarter in 2013 and that the real economic growth will likely reach 9.3 percent year on year.

The report also suggested that the country maintain relatively loose macroeconomic policies in the near-term, urging breakthrough reforms in key sectors including income distribution and property industry.

We recommend:

Yangtze River Highway Bridge in Taizhou to open

Car firms show up in droves

Shanxi to build four large coking industry parks slows

AVIC unveils new aircraft engines

China's MA700 to take flight in 2016

13th Int'l Automobile Industry Exhibition

Rural grid upgrades to ensure electricity

Staff members of bus company sort notes, coins

Galaxy Soho building in Beijing

Email|Print|Comments(Editor:梁军、马茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Destroyer fleet in combat training

  2. Veterans of Chinese national flag escort attend job fair in Beijing

  3. Unforgettable moments you can't miss in Nov.

  4. Sexy models shine at Guangzhou Auto Show

  5. Attractive beauties at auto exhibitions

  6. Construction of Yellow River bridge underway

  7. Ancient Chinese royal ceremonial wear

  8. National Geographic photo contest collection

Most Popular

Opinions

  1. China's economy picking up steam
  2. Debt crisis handicaps EU foreign affairs
  3. US not a bystander of Israeli-Palestinian conflict
  4. What a successful woman needs ?
  5. Commentary: Experimental financial reforms
  6. Does culture matter for restoring old towns?
  7. China 'essential to European recovery'
  8. China's arms’s capacity for independent innovation
  9. China's economic growth well on recovery track
  10. Call for fairer income distribution

What’s happening in China

Pretty model shines at Guangzhou Auto Show Hyundai Motor stage

  1. Co-worker: Political adviser has emigrated
  2. Chongqing pledges probe into sex tape scandal
  3. No casualties reported after quake jolts Xinjiang
  4. Heavy snow hits Altay, NW China
  5. Traffic jam seen on Jingtai Highway in Jinan