皇冠体育app

BEIJING - 皇冠体育app's economy will expand 7.8 percent this year, slightly above the set target of 7.5 percent, Bank of 皇冠体育app (BOC) forecast in its latest report.

In 2013, economic growth will experience a mild pick-up to around 8 percent, but recovery momentum will remain weak as factors that have supported 皇冠体育app's torrid growth in the past three decades are "undergoing significant changes," the report said.

BOC noted that 皇冠体育app will see waning dividends from its labor force, market reforms and globalization in the coming years, and it will take time for 皇冠体育app to restructure its economy from one dependent on export-driven growth to one powered by consumption.

However, a new round of reforms will offer fresh advantages to 皇冠体育app's growth, the BOC added.

Given such factors, the report said 皇冠体育app will maintain growth ranging from 7 percent to 8 percent in the coming few years.

BOC also forecast that 皇冠体育app's consumer price index (CPI) will grow around 3 percent in 2013.

皇冠体育app's economy expanded 7.4 percent year on year in the third quarter, slowing from 7.6 percent in the second quarter and 8.1 percent in the first, according to data from the National Bureau of Statistics.

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