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China's investment growth to remain steady in 2014: forecast
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China's fixed assets investment is likely to grow by around 20 percent next year, researchers predicted.
Fixed assets investment growth is likely to slow to 19 percent in 2014, dropping below 20 percent for the first time in 12 years, according to a prediction from the State Information Center.
The reform package issued recently by the government will boost investment next year, with infrastructure construction and service sector development leading further investment, said Hu Zuquan, an analyst with the State Information Center.
However, lingering overcapacity, local government debt problems and real estate market control may overshadow investment prospects next year, Hu added.
China is expected to see flagging external demand next year, and investment space is limited as enterprises are burdened with overcapacity and lack of innovation.
Meanwhile, China's central bank signaled it would continue prudent monetary policy in the future, and local governments are likely to tighten fiscal policy under debt pressure, Hu said.
More investment can be expected in road, railway and other infrastructure construction in line with the development targets outlined by the government's Twelfth Five-year Plan, said Tang Jianwei, a senior analyst with Bank of Communications.
Tang predicted around 20.1 percent year-on-year fixed assets investment growth for 2013 thanks to financing from non-banking institutions and overseas market.
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