外文标题：World Bank says China's growth to slow down to 7.4 per cent
BEIJING: China may miss the official target of 7.5 per cent GDP growth rate as the World Bank today cut the forecast for the world's second largest economy to 7.4 per cent this year, predicting its continued slow down.
China's growth will ease to 7.4 per cent this year and 7.2 per cent in 2015, as the government seeks to put the economy on a more sustainable path with policies addressing financial vulnerabilities and structural constraints, the World Bank said in its report released in Singapore today.
The figure is notch lower than the official target of 7.5 per cent, which the Chinese government set for this year as a threshold to halt the continued slow down of the economy hit by declining export markets and slow increase of domestic consumption.
China registered 7.7 per cent GDP last year. The slowdown from heydays of double-digit GDP growth till 2010 was attributed to China continuing with the structural reforms to address financial vulnerabilities and structural constraints.
"Measures to contain local government debt, curb shadow banking, and tackle excess capacity, high energy demand, and high pollution will reduce investment and manufacturing output," the state-run Xinhua news agency quoted the World Bank's report.
"China's slowdown in economy would be gradual; it is not the bottom falling out of China's growth," said Sudhir Shetty, World Bank's Chief Economist in East Asia and Pacific Region, adding, the slowdown in economic growth of China will not have a dramatic impact on other countries.
atul baride (Mulund)
China is growing more slowly than being discussed by World Bank. And, the property market bubble burst may the another big shoe to fall.
Ashok Gupta (India)
After a sustained growth rate of more than 8% in China, growth rate between 7% & 8% is respectable for China and for that matter any economy.
When countries are vexed with idea of increasing their GDP reverse seems to be happening in China and if it reduces steeply commodities market will get most affected
badegg (US) replies to sunflower
China is the largest commodity importter! China imports about 1 billion tons of iron ore, 280 million tons of oil, 60 million tons of soybeans. It would be a great plus for China if commodities market gets hit.
Still a high growth figure.......
bala sesham (Hyderabad)
It may be lower than the projected one. In my opinion, China is not projecting real statistics to the world.
dharman mehta (india)
and indias to be grown
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badegg (US) replies to dharman mehta
But even 7.2% is now still a dream number for India. While, Chinas GDP is about $9.2 trillion. 7.2% means growth of $662 billion. That's about 1/3 of India's GDP. China is still runing, and India is still crawling!
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