UBS bullish on China's prospects

Policies unlikely to change next year as economy heads toward path of recovery

The Chinese economy will grow faster next year amid policy continuity and stability, the investment bank UBS AG said on Thursday.

A property-market rebound combined with strengthened infrastructure spending and the end of corporate de-stocking will support a growth rate of 8 percent, 0.4 percentage points higher than the estimated 7.6 percent this year, UBS economist Wang Tao said in a conference call.