Chinese Economy Expected to Meet Growth Targets

A former U.S. Congressman, Chris Cox now serves as a Partner of Bingham McCutchen LLP and President of Bingham Consulting LLC. In his leadership role at Bingham Consulting, Chris Cox leverages his experience in cross-border investment and corporate governance to advise companies on their global strategies. Christopher Cox has also shared his expertise during events such as the Sino-U.S. Mayors Summit, which convened mayoral leaders from the United States and China.

According to a recent Bloomberg News survey, economists expect China to reach its 7.5 percent growth target in 2013. Furthermore, analysts predict that the country will maintain this pace into 2014. The positive outlook stems primarily from the recovery of global markets, specifically those in the United States and Europe. As the financial situations in these areas continue to improve, China will benefit from more robust export markets.

In addition to its expected export growth, China has experienced a significant credit boom. As of mid-August, the Shanghai Stock Exchange Composite Index had increased approximately 6 percent from its low point in June. Finally, government officials are planning to widen the yuan’s trading band over the next six months.