China government think tank cuts GDP forecast: Report

Tags: News
The Chinese Academy of Social Sciences (CASS), one of Beijing's top government think tanks, has revised its 2014 GDP growth forecast down to 7.4 per cent, below the official 7.5 per cent target, and says that growth could slow to as low as 7 per cent, state media reported on Wednesday.

The downward revision follows signs that China's economy slowed more than expected in the first quarter.

A report in the official China Securities Journal quoted the report published on Tuesday as saying that China's economic growth would continue to be driven by investment, but warned that excess production capacity and heavy local government debt burdens would slow fixed asset investment.

EDITORIAL OF THE DAY

  • Government must consider Sitharaman’s move to revisit Apple’s application for retail

    Commerce and industry minister Nirmala Sitharaman’s decision to revisit the Apple application for waiver of mandatory local sourcing, if taken serio

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Can Hefa actually become a reality?

The ministry of human resource development (MHRD) is actively wo­rking ...

Zehra Naqvi

Man proved to be a tyrant and a fool

Reading the history of different species is, perhaps, the most ...

Dharmendra Khandal

No one's getting rich overnight by poaching

We often read in newspapers that tiger skin worth Rs ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture