ADB expects China's economy to grow 7.5% in 2014

By Wang Yanlin | April 1, 2014, Tuesday |

Online Edition

CHINA'S economic growth is expected to moderate to 7.5 percent this year with slowing investment expansion and active implementation of structural reforms, the Asian Development Bank said today.

Such a growth pace, though slower, remains robust after the country's gross domestic product expanded 7.7 percent in 2013, the bank said in its flagship annual publication Asian Development Outlook.

Zhuang Juzhong, ADB's deputy chief economist, said China has the potential to improve its growth quality, making it more inclusive and more sustainable.

"China is tightening credit growth and working to bring local government debt under control. At the same time, the country has embarked on an ambitious reform agenda that will impact key areas of the economy," Zhuang said. "Such changes may result in slower growth before it stabilizes or rises again."

China's economic growth has shown signs of moderation since the start of this year, with indicators including industrial production, fixed-asset investment and retail sales all pointing to the soft side.

Business Economy

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ADB expects China's economy to grow 7.5% in 2014

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