China government think tank cuts GDP forecast - report

SHANGHAI Wed Apr 30, 2014 9:29am IST

A labourer works on steel bars in Yichang, Hubei province, April 29, 2014. REUTERS/China Daily

A labourer works on steel bars in Yichang, Hubei province, April 29, 2014.

Credit: Reuters/China Daily

Related Topics

SHANGHAI (Reuters) - 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 percent, below the official 7.5 percent target, and says that growth could slow to as low as 7 percent, 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.

(Reporting by Pete Sweeney; Editing by John Ruwitch)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Xi's South Asia Visit

REUTERS SHOWCASE

Economic Pulse

Economic Pulse

Weak industry and stubborn inflation hinder India's economic recovery.  Full Article 

Lipitor Lawsuit

Lipitor Lawsuit

Pfizer, Ranbaxy win dismissal of lawsuit over generic Lipitor.  Full Article 

Losing Glitter

Losing Glitter

India's love affair with gold may be over, as prices slide.  Full Article 

Factory Data

Factory Data

China Aug factory output growth near six-year low.  Full Article 

New Ford Models

New Ford Models

Ford to launch four new car models in India over 18-20 months.  Full Article 

Sales Forecast

Sales Forecast

Honda India two-wheeler unit sees FY15 sales rising more than a fifth.  Full Article 

Dispute Resolved

Dispute Resolved

Airbus gets Qatar A380 okay, but questions on A320 test.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage