Subscribe free to our newsletters via your
. Earth Science News .

World Bank ups Chinese growth projection for 2013
by Staff Writers
Washington (AFP) Dec 19, 2012

The World Bank on Wednesday upwardly revised its projection for Chinese economic growth in 2013 from 8.1 percent to 8.4 percent, but predicted the rate would taper off in the longer run.

This year, growth in the world's second-largest economy is expected to reach 7.9 percent, slightly better than the previously projected 7.7 percent, the Washington-based body said in its East Asia and Pacific Economic Update.

"Weak exports and the government's efforts to cool down the overheating housing sector slowed down China's economy in 2012, but recovery has set in the final months of the year," the World Bank said.

"In 2013, China's economy is expected to grow at 8.4 percent, fueled by fiscal stimulus and the faster implementation of large investment projects."

Still, despite the revision, 2013's rebound is not expected to take China's growth back to its 2011 level, when it reached 9.3 percent.

"In the longer run, GDP growth is projected to moderate somewhat because of the structural shift of the economy, which is anticipated to move away from investment and export-driven growth," the bank said.

"The anticipated slow recovery of the global economy, ebbing effects of this round of domestic stimulus, and the aging population contribute to this forecast."

Fiscal measures such as targeted tax cuts and social welfare spending "should attract first priority," the bank said, noting that Beijing's near-term policy challenge was balancing the trade-off between supporting growth and reform.


Related Links
The Economy

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Hong Kong probes UBS over interbank rate rigging claims
Hong Kong (AFP) Dec 20, 2012
Hong Kong's de facto central bank on Thursday said it would probe UBS over possible rigging of the financial hub's interbank rate, a day after the Swiss giant agreed to pay a huge fine over the Libor scandal. The Hong Kong Monetary Authority said it has received information from overseas regulators about "possible misconduct" by UBS involving submissions for the city's interbank offered rate ... read more

China arrests nearly 1,000 doomsday 'cult' members

Zuckerberg donates $500 mn to charity

China opens disaster research laboratory

Doomsday cult arrests surpass 400 in China

Apple "pinch-to-zoom" patent deemed invalid

Google sells Motorola Mobility Home for $2.35 bn

Bubble study could improve industrial splash control

Missile Defense Agency awards Raytheon contract modification for AN/TPY-2 radar

EU to fund Djibouti desalination plant

Mapping effort charts restoration tack for Great Lakes

Investigating ocean currents using uranium-236 from the 1960s

Disputed fish quota cuts lead to tough EU talks

'Missing' polar weather systems could impact climate predictions

Top Officials Meet at ONR as Arctic Changes Quicken

Invasive species said threat to Antarctica

Australia plans drill of ancient Antarctic ice core

Three Bacterial Strains Common to Grapevines and Sugarcane Decoded

Soil determines fate of phosphorous

Building better barley

Argentine corn exports blocked by China

Storms in the Machine

Russian volcano eruption ongoing

Flash floods kill 25 in Sri Lanka: disaster agency

Ecuador volcano spews lava, ash

Kenyans brace for another violent election

French push Algeria to join Mali incursion

Troops patrol Nigeria city after death of governor

DR Congo leader says defence top priority after rebel takeover

US shooting revives debate over videogame violence

Study: Early humans had a taste for grass

Tracing humanity's African ancestry may mean rewriting 'out of Africa' dates

Technology has spawned 'new brain'

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement