China's economic growth to exceed 8 pct in 2013: Chinese daily
Published : 2013-01-07 17:50
Updated : 2013-01-07 17:50
China's economic growth will likely exceed 8 percent this year on the back of stimulus measures, recovering slightly from last year's slower growth, a Chinese financial daily said Monday.
The Beijing-based Securities Daily, a media outlet designated by China Securities Regulatory Commission, said China's economy will grow 8.2 percent this year, higher than an estimated 7.7 percent growth in 2012.
"With the effect of policy measures gradually emerging, the Chinese economy in 2013 is expected to achieve a moderate increase in the gross domestic product growth at around 8.2 percent," the Securities Daily predicted.
The government's push for steady economic growth and a rise in construction projects will facilitate steady investment growth, it said.
China will see in 2013 a nearly 20 percent increase in its fixed asset investment to surpass 45 trillion yuan ($7.2 trillion), compared to an estimated 20.4 percent growth to reach 7.5 trillion yuan in 2012, the Securities Daily said.
The Chinese authorities' continued emphasis on urbanization and people's quality of life will lead to higher fiscal spending and tax reforms, the newspaper added.
In the annual Central Economic Work Conference, which sets the macro-economic policies, held earlier last month, Chinese leaders proposed a new urbanization plan aimed at improving the welfare of rural residents.
The budget deficit may rise to about 2 percent of gross domestic product in 2013 from a targeted 1.5 percent for 2012, it said.
This year's Chinese consumer price index (CPI) was expected to accelerate in the 3 to 3.5 percent range.
"The most direct driving factor in the CPI is pork prices, which will enter a cyclical rise phase," the news outlet said. "In addition, more relaxed monetary conditions globally have put upward pressure on prices. Europe and the U.S. as well as countries like South Korea, Brazil, Australia and India have recently adopted loose monetary measures, which will increase global liquidity. (Yonhap News)