China's GDP to climb 8.1% in 2013

But analysts believe recovery won't be as significant.

According to OCBC, China’s GDP is likely to grow at 8.1% yoy in 2013, just slightly above the projected 7.7% yoy in 2012. The firm expects social financing, which has been stronger than expected in 2012 to provide crucial funding support to China’s recovery.

Here's more from OCBC:

However, the recovery is unlikely to be as significant as what we saw in 2009 particularly since the government is unlikely to announce fiscal stimulus to the extent of that passed in 2008.

The current tone of prudent monetary and proactive fiscal policies is likely to remain intact in the near term with the incoming policymakers appearing comfortable with the current growth trajectory and subdued inflation of possibly below 3% yoy in 2013.

The trend of RMB appreciation should persist in 2013, albeit at a slower pace with higher volatility. With the RMB moving towards being more market-determined, the possibility of further band widening from 1.0% to 1.5% should not be ruled out.

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