Will Chinese Economic Growth Slow in 2013?
Yi Gang, the deputy governor of China’s central bank, expressed his assurance that China’s economic growth will come in at over 7.5 percent this year, Reuters reports.
Yi said that he expects China’s economy to expand at a rate of 7.6 percent during 2013, maybe even slightly higher. This comes in the wake of announcements by the World Bank and the International Monetary Fund in which they lowered estimates for China’s growth to 7.5 and 7.6 percent, respectively. The Chinese government has stated that their official goal is to keep growth rates at 7.5 percent or higher, meaning that the country is still on track to achieve its benchmark — barely.
Some analysts have been unswayed by the recent predictions, saying that growth will be closer to 8 percent, something that would be welcome news for the Chinese government. The state is due to release eagerly anticipated third quarter numbers later this month, which could well shed light on a more precise estimate of how the Chinese economy will perform in 2013.