BEIJING, Dec. 3 (Xinhua) -- China's economy is expected to expand 7.6 percent in 2013 and then edge down to around 7.5 percent in 2014, the State Information Center (SIC), a government think tank, has forecast.
The SIC advised the central government to set the economic growth target for 2014 at 7 percent in an effort to focus more effort on reform and adjusting the economic structure
It also advised maintainance of a proactive fiscal policy and prudent monetary policy.
The SIC said there may be more pressure to control consumer inflation in 2014 with the consumer price index (CPI) expected to rise 3.2 percent from 2013.
Housing prices may rise 5 percent in the coming year, defying government effort to rein in runaway prices, but a rapid decline in housing prices if local government debt is not properly handled cannot be ruled out.
China's economy grew 7.7 percent in the first three quarters of the year, keeping it on track to meet this year's target of 7.5 percent.
China sets up association to promote circular economy
BEIJING, Nov. 30 (Xinhua) -- China Association of Circular Economy (CACE) was set up Saturday to promote the growth of circular economy.
The association, with members including government officials, academicians and entrepreneurs, will serve as a platform for amassing strengths from different participants in the industry, promoting the idea of recycling and daily practice, and contributing to the nation's efforts to develop the green economy, said a CACE press release. Full story
CPC: China to further open up its economy
BEIJING, Nov. 15 (Xinhua) -- China will further open up its economy by broadening market access, boosting regional cooperation and opening up its interior and border cities, according to a policy document published by the Communist Party of China (CPC) Central Committee on Friday.
The document, with the title "decision on major issues concerning comprehensively deepening reforms," was approved by the Third Plenary Session of the 18th CPC Central Committee, a four-day key meeting which ended on Nov. 12. Full story