According to Zhang Xiaoqiang, the vice chairman of the National Development and Reform Commission (NDRC), cited by Xinhua, China's economy grew at a 7.7 percent rate in 2012, exceeding the 7.5 percent target set early last year.

Quoting Xiaoqiang's speech in a forum, Xinhua official Weibo, CHINA EXCLUSIVE, said China’s economy is seen growing at a 7.5 percent rate and CPI increasing at a 3.5 percent in 2013.

China's National Bureau of Statistics is scheduled to publish China’s economy growth of 2012 and macroeconomic data of industry, investment and retail sales of December next Friday (Jan. 18). The prediction given by Reuters and other 20 more institutions, shows that China’s economic growth in the fourth quarter of 2012 is expected to be 7.8 percent.

Earlier in the day, National Bureau of Statistics published that Consumer Price Index (CPI) of December was up by 2.5 percent over November and CPI of 2012 was up by 2.6 percent over last year.

Written by Nicolas Yang