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China's economic growth by the end of 2013 will be 7.6 percent

yanCumulative growth of the Chinese economy in 2013 will be around 7.6 percent, while growth in the next year , presumably, will continue to remain at a similar level . This opinion was expressed by the deputy director of the Academy of Social Sciences / ANI / China Li Yang on passing in Sanya / prov.Haynan , South China / International Financial and Economic Forum.

As the expert noted , China still needs a high rate of growth, but this growth must not be accompanied by the emergence of commodity inflation and excess capacity , it should be a signal to the stable state of the economy for the Chinese population , and the global community.

Referring to financial reform , Li Yang said that in the past more than 30 years of reform, the Chinese financial sector has gained a considerable scale , with the new stage of reforms needed to focus on the following six major problems in the sector : the lack of standardization , low efficiency of utilization of financial resources , scarce sector the general population , inadequate risk management mechanism , a strong control over the movement of transnational capital , the need to strengthen cooperation between regulators .

"China has no shortage of money , but lacks long-term investment , so in the coming decades , we need long-term investments in reindustrialization and urbanization in the country , and in the next step will be necessary to develop a multi-level capital market , including the bond market with a focus on long-term need for enterprises financing and financial system , aimed at the development of urban infrastructure , "- said Li Yang .

Xinhua