e-magazine
The Frontline of Reform
One year on from its establishment, how is Shanghai's free trade zone doing thus far?
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Weekly Watch
Expert's View
World
Nation
Business
Finance
Market Watch
Legal-Ease
North American Report
Forum
Government Documents
Expat's Eye
Health
Sci-Tech
Lifestyle
Books
Movies
Backgrounders
Special
Photo Gallery
Blogs
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Web-magazine
Reader's Letters
Make Beijing Review your homepage
Hot Links

Market Avenue
eBeijing

ECONOMY
THIS WEEK> THIS WEEK NO. 42, 2014> ECONOMY
UPDATED: October 13, 2014 NO. 42 OCTOBER 16, 2014
Altered Forecast
Share

The World Bank said on October 6 in Singapore that it has cut the growth target forecasts for China to 7.4 percent in 2014 and 7.2 percent in 2015, as China pushes forward 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," said a representative for the bank, regarding China's outlook.

However, Sudhir Shetty, the World Bank's Chief Economist in East Asia and the Pacific Region, claimed that China's slowdown in economy will be gradual and this does not represent the bottom falling out of China's growth. She added that the downward trend in China will not have a dramatic impact on other countries.

The World Bank proposed that China's structural reforms in sectors such as state-owned enterprises and services could help "offset the impact of measures to contain local government debt and curb shadow banking."

As to the property market, the bank said that "a major nationwide correction in real estate prices in China remains unlikely, although there may be pressure on prices in several of the less rapidly growing provinces."



 
Top Story
-Reflections on the Free Trade Zone
-Special Coverage: Shanghai to Pilot Free Trade Program
-Subcontinent Connections
-Advancing Sino-Indian Relations
-Credit Where Credit Is Due
Most Popular
在线翻译
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved