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In the outlook, economist Yingying Xu, Ph.D. provides detailed analysis and forecasts for 14 of the nation's most important industries for 2011 and 2012.
"The main growth driver continues to be domestic demand, especially in investment," Xu said. "The fixed asset investment, which increased 26 percent on a year-over-year basis during the first half of 2011, was underpinned by spending associated with a number of investment projects set in motion at the outset of China's 12th five-year plan. Real estate investment remained buoyant as well."
MAPI forecasts that final manufacturing sales revenue will show 24 percent growth in 2011, an increase over the 19 percent anticipated in its January 2011 outlook. Sales revenue should climb an additional 20 percent in 2012.
In 2011, 13 of the 14 industries detailed in the report are anticipated to grow at a slower pace than the record-high expansion levels seen in 2010. Growth in one industry – food, beverages, and tobacco – should remain flat. Electrical machinery and apparatus, at 32 percent, is expected to lead in 2011, followed by chemicals, chemical products, and pharmaceuticals at 31 percent, and wood products at 26 percent.
In 2012, wood products are expected to show the most growth at 31 percent, followed by textiles and apparel at 28 percent, and by chemicals, chemical products, and pharmaceuticals at 27 percent.
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