One of the most popular prognostications in 2012 was for a deep pullback in the Chinese economy.
Around September it became clear that officials had manufactured a soft landing and that growth was back on the upswing.
As the leadership transition continues, 2013 will be a year of solid, steady growth. In a brief New Year statements outgoing PBOC leader Zhou and departing President Hu said prudent policies will continue and economic reforms will deepen, which is likely a hint at the continuation toward a more consumer-driven economy.
“Transforming the economic growth model will be a main theme,” Hu said, without giving further details. “The trend of weak global economic growth will continue.”
