China's economy to rebound in 2013, experts say
New leadership and favourable economic data from the past two months prompt predictions that economy to grow at 8pc or above next year
Forecasts on prospects for the mainland economy are becoming more optimistic on the eve of a top-level meeting.
The Central Economic Working Conference, expected to be held this weekend, comes amid strong feeling among economists and government researchers that growth in the world's second-biggest economy is on the rebound.
Economists who say the mainland's growth will accelerate next year say the new leadership may adopt a slightly expansionary fiscal policy to support investment and consumption as part of the nation's urbanisation push, while keeping monetary policy stable.
Most of the experts expect the mainland economy to expand at a pace close to or above 8 per cent next year. Among the most optimistic, HSBC forecast a growth of 8.6 per cent, while Tim Condon at ING predicted an expansion of 9 per cent on expectation that incoming Premier Li Keqiang will soften housing restrictions.
Favourable economic data in the past two months has also boosted economists' confidence about a recovery that will last into next year.
Maintaining a sound pace of economic expansion in 2013 will provide a desired environment for new leaders to carry out pledged structural reforms.