China's economy set to grow 8.5% in 2013
Source: Xinhua |
January 21, 2013, Monday
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Print Edition
Print Edition
CHINA'S economy will grow 8.5 percent this year, with domestic demand driving the expansion, a Bank of Communications report predicted.
Demand from Europe and the US will bottom out and boost Chinese trade. Exports will rise 8.5 percent this year from 2012 and imports will climb 10 percent. Domestic demand will continue to replace investment as the leading engine for economic growth, the report said. It forecast retail sales to grow 12.5 percent in 2013. China will adopt loose fiscal and stable monetary policies to support the real economy. Its new lending is seen up to 9.5 trillion yuan (US$1.51 trillion) in 2013, the report said.
Demand from Europe and the US will bottom out and boost Chinese trade. Exports will rise 8.5 percent this year from 2012 and imports will climb 10 percent. Domestic demand will continue to replace investment as the leading engine for economic growth, the report said. It forecast retail sales to grow 12.5 percent in 2013. China will adopt loose fiscal and stable monetary policies to support the real economy. Its new lending is seen up to 9.5 trillion yuan (US$1.51 trillion) in 2013, the report said.
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