The Vice-Principal of Peking University and economist, Liu Wei, said that China's economic growth could reach 8% in 2013. He revealed that the retail sale of social consumer goods has increased 12.1% last year and is expected to be 14%-15% in 2013. Based on the previous experience, if it reaches 14%-15%, the economy will be boosted for 3%. So, the sum of investment and consumption growth will be 7%-8%. In terms of the effect of net export on total consumption, the growth rate was -2.2% last year.