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Report puts China economic growth at 8.2% in 2013
China's economic growth may accelerate 8.2 percent in 2013 from an expected 7.7 percent this year, spurred by supportive policies, the Chinese Academy of Social Sciences said in a report today. The report, which aims to analyze and project China's economic trend next year, said the country should stabilize investment as a direct and effective measure to bolster short-term growth.
It echoed recent optimism in the economic circles which believed China has recovered from a seven-quarter slowdown and is poised for a rebound in 2013.
"We are cautiously optimistic about next year's outlook," said Pei Changhong, director of Economic Research Institute under the academy. "We should be alert to possible downside risks in trade and be prepared with enough policies."
The report said China has enough fiscal and monetary room to roll out new policies to stabilize economic growth when necessary.
There are already signs of accelerated growth for the world's second-largest economy.
The China Wealth Index, compiled by the Bank of Communications to gauge confidence among Chinese households, stood at 117 in November, ending a slide since May and higher than September's 113, BoCom said today. A reading above 100 means optimism.
Lian Ping, chief economist at BoCom, said Chinese economy has emerged from the worst setback since 2008 and may wind up the year with 7.8 percent growth rate.
"The Chinese leadership has promised to maintain macroeconomic policies so that both growth and inflation will remain moderate in 2013," Lian said. He put next year's growth rate between 8 and 8.5 percent if real estate policies are not relaxed.