China bears could be in for a big letdown this year, if the latest growth upgrades for the world's second-largest economy are anything to go by.
Deutsche Bank on Tuesday raised its third-quarter gross domestic product (GDP) growth forecast to 7.9 percent on year from 7.7 percent, and its fourth-quarter forecast to 8.0 percent from 7.8 percent.
(Read more: China's economy coming up trumps)
Growth of 8 percent would be the fastest pace since the first quarter of 2012, when the economy expanded 8.1 percent. Growth at such levels would ensure the government achieves its 2013 growth target of 7.5 percent.
"The specific trigger for this upgrade is the August industrial production data. Retail sales and fixed asset investment data also exceeded consensus estimates, suggesting that inventory restocking is not the only reason for the on-going recovery," Jun Ma, chief economist at the bank wrote in a note.