China 'certain' to hit 2012 GDP growth target

China is certain to hit the government's economic growth target of 7.5 percent for 2012 and could even exceed it, Commerce Minister Chen Deming said on Wednesday.

Chen made the comment at a conference, adding that China would likely spend more than $70 billion this year on non-financial outbound direct investment.

In the first three quarters, China's economy has grown 7.7 percent from a year ago, therefore, it is for certain that we can achieve the annual GDP target of 7.5 percent or above, Reuters quoted Chen's speech.

The minister's remarks on growth echo those made by an official from the National Bureau of Statistics in October when economic data for the third quarter revealed annual growth had dipped to 7.4 percent.

Chen said the trend for China to increase its outbound investment would continue for years to come.

Chen said the non-financial outbound investment this year will be larger than last year and likely top $70 billion, Reuters cited in the report

China's outbound direct investment from non-financial firms in the first 10 months totaled $58.2 billion, up 25.8 percent year-on-year, Ministry of Commerce data shows.