Inflation rise 'on the horizon'
Updated: 2013-01-21 07:22
By Chen Jia (China Daily)
|
|||||||||||
GDP growth to remain the same but prices may go up: think tank
Growth levels will remain about the same in 2013 but inflation is likely to rebound moderately, according to economists at the government's leading think tank.
GDP growth will stay at 2012 levels, about 7.8 percent, and the Consumer Price Index, a main gauge of inflation, may go up from 2.6 percent in 2012 to 4 percent, said Yu Bin, the director of macroeconomic research at the State Council Development Research Center.
Fixed-asset investment, which is seen as the most powerful driver of the world's second-largest economy, may continue to face downward pressure, amid restrictions on raising property prices.
The National Bureau of Statistics reported on Friday that GDP growth was 7.8 percent in 2012, a 13-year low. It registered 9.3 percent in 2011.
"We should not be too optimistic about the economic situation in 2013, although growth rebounded in the final quarter last year to 7.9 percent from the 14-quarter low of 7.4 percent during July to September," Yu said.
The two biggest areas of fixed-asset investment, manufacturing and infrastructure, both registered declines.
Investment in manufacturing, which accounts for 35 percent of fixed-asset investment, slowed to 22 percent in 2012 from 31.8 percent in 2011, the NBS reported.
Infrastructure investment, 25 percent of fixed-asset investment, shrank to 15.6 percent by the end of December 2012 from 16.2 percent in the first 11 months. Meanwhile, growth in property investment edged lower to 16.2 percent during the past year, against 16.7 percent from January to November.
Related:
Inflation uptick to complicate economic outlook
Chinese shares retreat on inflation data
China's Dec inflation rises to 2.5%
Today's Top News
President Xi confident in recovery from quake
H7N9 update: 104 cases, 21 deaths
Telecom workers restore links
Coal mine blast kills 18 in Jilin
Intl scholarship puts China on the map
More bird flu patients discharged
Gold loses sheen, but still a safe bet
US 'turns blind eye to human rights'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |