Retail in Asia

In Markets

China 2012 growth to slow to 8.2pc, recover in 2013

Chinese growth is likely to slow to 8.2 percent this year, its weakest in more than a decade, before government support helps it rebound to 9.3 percent in 2013, the Organization for Economic Co-operation and Development (OECD) said on Tuesday.

The OECD cut its growth forecast for the world’s second largest economy from 8.5 percent made last November. That is still higher than a government target of 7.5 percent for 2012.

"As the inventory cycle turns, and fiscal and monetary policy become more expansionary, growth should pick up in the course of 2012 and stabilise at over 9 percent in 2013," the Paris-based body said in its biannual outlook.