According to the Chinese Academy of Social Sciences (CASS), economic growth in the Asian nation could improve to 8.2% next year, compared to the estimated 7.7% for 2012. Reuters reports:
The country's top think tank said in its "blue book" report on China's economy that Beijing should intensify proactive fiscal policy next year including "appropriately" expanding the fiscal deficit and cutting taxes that hinder economic efficiency.
China has not yet issued an official GDP forecast for 2013, but CASS's status as the premier state-backed centre for academic and policy research means its outlook to a certain extent reflects central government thinking.
Based on the trouble that China's trade partners face, the forecast seems optimistic.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, China