2013 GDP target likely to be set at 7.5%

%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20first%20annual%20economic%20work%20conference%20of%20the%20new%20Communist%20Party%20leadership%20will%20set%20the%20economic%20growth%20target%20for%202013%20at%207.5%20percent%2C%20China%20Business%20News%20reported%20on%20Monday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ECiting%20an%20anonymous%20source%2C%20the%20newspaper%20said%20the%20meeting%2C%20which%20is%20expected%20to%20be%20held%20in%20December%2C%20is%20likely%20to%20set%20the%20annual%20gross%20domestic%20product%20growth%20target%20for%20the%20next%20year%20at%207.5%20percent%2C%20the%20same%20as%20this%20year%27s%20target.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20CPC%20Central%20Committee%20holds%20the%20economic%20work%20conference%20at%20the%20end%20of%20every%20year.%20It%20sets%20the%20tone%20for%20the%20next%20year%27s%20economic%20priorities%20and%20policy.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESetting%20the%20target%20at%207.5%20percent%20will%20maintain%20the%20continuity%20of%20the%20economic%20policy%20and%20is%20consistent%20with%20the%20target%20in%20the%2012th%20Five-Year%20Plan%20%282011-2015%29%20and%20the%20report%20of%20the%2018th%20Communist%20Party%20Congress%2C%20a%20person%20close%20to%20the%20policymaking%20circle%20told%20the%20newspaper.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%2012th%20Five-Year%20Plan%20set%20the%20annual%20GDP%20growth%20in%20the%20five-year%20period%20at%207%20percent.%20The%20report%20of%20the%2018th%20Communist%20Party%20Congress%20promised%20to%20double%20China%27s%20GDP%20by%202020.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ELu%20Ting%2C%20chief%20economist%20of%20Bank%20of%20America%20Merrill%20Lynch%27s%20Greater%20China%20division%2C%20said%3A%20%22Setting%20the%202013%20GDP%20target%20at%207.5%20percent%20instead%20of%207%20percent%20is%20conducive%20to%20the%20strengthening%20of%20market%20confidence.%20And%2C%20given%20that%20the%20radix%20of%20the%202012%27s%20GDP%20is%20low%2C%20it%20is%20very%20likely%20that%20GDP%20growth%20in%202012%20will%20surpass%208%20percent.%22%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28China%20Daily%29%3CBR%3E%3C/FONT%3E%3C/P%3E