2012 has been a year filled with challenges for Chinese economy, facing a weakening demand from the West and the pressure of domestic economic restructuring. But there are some optimistic signs in the economy.
Investment, consumption, exports and imports are the most important drivers of China’s economy. According to economic data released for November, exports grew 2.9% in November. China’s exports in the first three quarters of 2012 have risen 7.4%.
Domestic consumption has become essential to sustain growth. In the first three quarters of 2012, the contribution rate of consumption to the economic growth reached 55%. Promoting domestic consumption is likely to remain a priority.