Beijing, Nov 26: China’s economy is expected to grow at a rate of 8.5 percent in 2012, which is a slower pace than 2011, said an official of a Chinese government think tank.
Lu Zhongyuan, deputy director of the Development Research Centre (DRC) of the State Council, or China’s cabinet, said that he expected China’s investment to grow by 20 percent next year, Xinhua reported.
Lu said he expected exports to slow along with investment.
Investment, consumption and exports are regarded as three major factors in stimulating economic growth.
Next year’s total consumption may outpace that of 2011 due to increased livelihoods and an improved domestic employment situation, said Lu, adding that the slower economic growth is ‘reasonable and acceptable,’ considering the improving quality and sustainability of China’s economic development.
In 2012, the country’s year-round consumer price index (CPI), a main index of inflation, is expected to reach 4.5 percent.