China's gross domestic product can rise over 8 per cent in the next 12 months, economists predicted.
Their optimistic forecast, ranging from 7.9 per cent to 8.2 per cent, is based on a consensus among officials and experts that the nation's external and internal environment in relation to economic development is "positive," Xinhua reported yesterday.
As for the external environment, an analysis by the International Monetary Fund said the world economy, in general, will recover to a certain degree and should hit an annual increase of 3.7 per cent. The increase for 2002 was 2.8 per cent.
An official with the State Development Planning Commission predicted investment, consumption and exports - the three major forces behind the fast economic development of China last year - will continue to give impetus in 2003.
An unnamed expert with the Development Research Centre under the State Council said investment in fixed assets by Chinese people will increase at a rate "slightly" higher than that of last year.
Consumption is expected to increase by 10 per cent this year with communication products, vehicles and housing to remain as the leading attractions. The growth of exports in 2003 will stay around 10 per cent.
(China Daily January 2, 2003)
