China’s exports projected to grow 8 per cent in 2013

China's exports are expected to grow 8 per cent in 2013 from the previous year while imports may be set to rise 7.8 per cent, according to leading Chinese think tank, State Information Centre (SIC). This came in a research report published on Wednesday.

"China's foreign trade will expand slowly in 2013 as factors hampering global economic recovery may not disappear easily while China's economic growth will stabilise," it said in the report published in the China Securities Journal.

China's exports were up 7.3 per cent in the first 11 months of 2012 from a year earlier, even as imports grew 4.1 per cent, according to official data. The government aimed for 10 per cent growth for combined exports and imports this year.

China's economy could see an 8 per cent growth in 2013, with expansion in industrial output of 10.5 per cent, it said.

The economy was on track for a 7.7-per cent growth in 2012, overshooting the official target of 7.5 per cent. Quoting sources Reuters reported last week that the Chinese government was likely to stick with the 7.5 per cent growth goal in 2013.

The report added that China could see a 3 per cent annual rise in foreign direct investment (FDI) inflows next year to $116 billion.

China's retail sales were likely to increase by 14.6 per cent in 2013, picking up from 14.2 per cent this year, due largely to increasing incomes as the government pushed forward reforms and urbanisation, the forecasts said.