(MENAFN) A report forecasted that China's economy is expected to grow 7.5 percent in the second quarter of 2014, led by obvious signs of an economic pick-up since May, QNA reported
The forecast came after economic growth in the world's second largest economy slowed to 7.4 percent in the first quarter, marking the lowest rate of growth in six quarters
The report, which was released by the International Finance Research Institute under the Bank of China, said the government has rolled out a raft of measures to ensure stable growth since April
These measures include plans to boost investment in railways and affordable housing projects, tax reductions for small and micro-sized firms, and cuts to reserve requirement ratios for certain banks
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.