Business / Economy

China's GDP to grow 8.6 percent in 2013: HSBC

( Updated: 2013-01-09 19:34

China's GDP will grow by 8.6 percent in 2013 owing to measures to stabilize economic growth despite weak global demand, Chongqing Morning Post quoted Qu Hongbin, HSBC's chief economist in China, as saying on Wednesday.

Qu said that the recently launched projects had rejuvenated infrastructure investment while investment in real estate is warming up, which will drive up Chinese economic growth in 2013.

CPI will increase about 3 percent throughout 2013 due to rising food prices. CPI increased by 2 percent year-on-year in November while GDP expanded by 7.4 percent in the third quarter, according to the National Bureau of Statistics.

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