China 2013 GDP Growth Seen at 8%: State Think Tank
A state think tank has forecast China's GDP growth next year at around 8 percent and projects the consumer price index to rise around 3 percent, the official China Securities Journal reported on Friday.
The State Information Center said in a report published in the paper that China should continue to implement a proactive fiscal policy and prudent monetary policy to promote efforts to reform the economy.
The macroeconomic policies of the world's major economies in 2013 will remain loose and, while a moderate recovery will continue, uncertainty will still be present, the report said.
The report also gave other 2013 forecasts, estimating that industrial growth will come in at 10.5 percent in real terms,investment in fixed assets will increase 22 percent in nominal terms and real estate development and investment growth will be 15 percent. Retail sales of consumer goods are expected to rise 14.6 percent in nominal terms.
Labor costs are expected to fall slightly.
China's leaders are likely to stick with the 2012 economic growth target of 7.5 percent when they chart a course for 2013,allowing higher levels of fixed-asset investment to offset weak export demand, sources involved in internal discussions about the plans told Reuters last week.
China's annual growth rate fell for seven straight quarters through the third quarter, but economists are forecasting the start of a pickup in October-December and for full-year expansion to top the government target.
On Wednesday, the think tank published a report forecasting that China's exports would grow 8 percent in 2013 from the previous year while imports could rise 7.8 percent.