China Will Likely Post 6.8% Economic Growth Rate This Year, Report Says
Zhu Yanran
/SOURCE : Yicai
China Will Likely Post 6.8% Economic Growth Rate This Year, Report Says

(Yicai Global) Dec. 29 -- China will likely record an economic growth rate of 6.8 percent for this year, per the China Economist Survey on Hot Topics for the fourth quarter.

Nearly 60 percent of those surveyed were keen on 6.9 percent or 6.8 percent. Some 32.5 percent of economists predicted 6.8 percent in this survey, compared with 22.5 percent of experts who did so in the one from last quarter.

The China Economist Survey on Hot Topics is a series that the China Academy of Social Sciences' Institute of Industrial Economics has published since 2009. The economists the institute surveys are mostly scholars, businessmen and researchers in government institutions.

The annual economic growth rate economists predicted in this survey marks an increase from the one in the last survey, said Li Gang, a researcher at the Institute of Industrial Economics.

The average rate economists in West China went with increased 0.4 percentage points quarter-on-quarter to 6.8 percent. That of those in East and Central China rose 0.3 percentage points to 6.9 percent.

The economic sentiment index in this survey was 113, on par with last quarter's. Survey participants predicted a shift from continuous acceleration to a stable stage, indicating that they believe the macro-economy has embraced a stabilized growth period following the rebound-like growth that had been prevalent since last year's second quarter.

The consumer price index (CPI) in this report was 156, up from 145 last quarter. This jump shows that economists anticipate new growth drivers.

Some 69.1 percent of the participants said pressures from sky-high housing prices are the challenge Chinese face, while 48.8 percent pointed to inequality in education resource allocation and 46.6 percent expressed concerns about the growing income gap.

Follow Yicai Global on
Keywords: Economic State , GDP , CPI , Economist Survey