Resumen de China construction to pick up in 2013
"Firstly, the quarter-on-quarter figure provided by the China's National Bureau of Statistics (NBS) is seasonally-adjusted but it is not annualised. For this reason, said Patrick Chovanec, a professor at Tsinghua University, economists and reporters tend to ignore the number because it can't be easily compared to the quarter-on-quarter figures provided in other countries," explained Kate Mackenzie, Financial Times Alphaville's Asia correspondent.
While China's growth figures should not be readily compared with other countries', they do provide a good basis for assessing the country's growth.
"The rapid urbanisation process, which moved 470m people from rural to urban areas over the past three decades, is forecast to bring another 160m people to cities by 2020, and this will continue to be the main growth driver in China's residential housing market in the near future," it added.
