China’s economic growth in 2013 is expected to reach 8.2 percent, while the achievement of the target involving a higher probability to tip the risk towards bear case than before, an economist of Morgan Stanley said Monday.
As for one of the most important unanswered questions for 2013 in many people’s mind which is, whether China’s growth recovery this year is sustainable or not, Helen Qiao, chief economist of Greater China of Morgan Stanley, held a view that so far statistics showed that the economy is in a mild recovery.
“For the first half of the year, we are expecting twilight… but going through the second half, we are expecting better growth under very supportive monetary policy easing,” she said.
Qiao expressed her surprise on the first quarter GDP growth of 2013, which is 7.7 percent year on year, slowing from 7.9 percent year on year in the fourth quarter last year, although this number is still higher than the 7.5 percent annul target set by Chinese government for 2013.
“In sequential terms, it was actually very low. According to the National Bureau of Statistics, the number was actually as low as 6.4 percent in quarter on quarter seasonally adjusted. That was 2.4 percent lower than the fourth quarter in 2012,” Qiao said.