BEIJING, Jan. 19 (Xinhua) -- China will witness a moderate economic recovery this year while a rapid rebound in inflation is unlikely, according to a chief economist.
Despite the uncertainty in external markets, which is considered to be the major challenge for China this year, the country is likely to record 8.6 percent economic growth in 2013, Qu Hongbin, HSBC China chief economist said.
The continued slowdown in the U.S. economy and recession of the European Union will continue to weaken China's external demand and keep the country's foreign trade growth under 10 percent this year, said Qu in an interview in Saturday's China Securities Journal.
China's economy posted its weakest expansion in a decade in 2012 by growing 7.8 percent year on year, according to the National Bureau of Statistics (NBS).
In the fourth quarter last year, economic growth quickened to 7.9 percent year on year after government pro-growth measures, ending a seven-straight-quarter slowdown.
Qu attributed the economic recovery to an acceleration in infrastructure investment and a rebound in the property sector, and said maintaining the upward trend to avoid a "W-shape" recovery will be crucial to this year's macro-economic policies.
The major task for policymakers will be ensuring a certain speed of growth in infrastructure investment while keeping the real estate market basically stable, he said.
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