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China economy to rebound in 2013: AFP survey

Published on Jan 13, 2013 4:28 PM
 
A woman working in a textile factory that exports clothing materials to the US and Europe in Jiujiang, east China's Jiangxi province. China's economy is poised finally to end a long downward trend in 2013, economists polled by AFP say, as the new communist leadership vows to retool the nation's investment-led development model and promote a "happy life" for all. -- PHOTO: AFP

BEIJING (AFP) - China's economy is poised finally to end a long downward trend in 2013, economists polled by AFP say, as the new communist leadership vows to retool the nation's investment-led development model and promote a "happy life" for all.

The world's second-largest economy is not expected to return to double-digit growth, but the economists' predictions are a welcome spot of good news in a financial world assailed by the eurozone debt crisis and lacklustre recovery in the United States.

After seven consecutive quarters of slowing growth, China's gross domestic product (GDP) will rise by 8.0 per cent in 2013, according to the median forecast of 15 economists surveyed by AFP. The poll also projected 7.7 per cent growth for 2012.

The figures would outpace the government's 7.5 per cent growth target for 2012 - but are well below the 9.3 per cent recorded in 2011 and 10.4 per cent in 2010.

 
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