Chinese economy to grow 7.5 percent in 2014

(MENAFN) According to a forecast by a Chinese senior official, the country will overcome its second-quarter economic decline this year and hit an economic growth of around 7.5 percent, Xinhua reported. China is still in a downturn but economic indicators have pointed to an upcoming rebound, said a deputy director of the institute of macroeconomic research under the National Development and Reform Commission (NDRC). It is noted that the world's second largest economy has witnessed a slowdown in its economic growth to a six-quarter low of 7.4 percent in the first quarter of 2014.