(MENAFN) According to an official think tank, China's economic growth is expected to slow to 7.3 percent by year-end from 7.7 percent in 2013, Xinhua reported.
The Chinese Academy of Social Sciences (CASS) attributed the projected slowdown mainly to remarkable deceleration in growth of real estate investment.
Property investment rose 13.2 percent in the January- August period over a year ago, slower than the 13.7-percent rise in the first seven months, the National Bureau of Statistics (NBS) said.
Government efforts to boost infrastructure investment have failed to offset the drop in property investment resulting from financing constraints and low rates of return on investment.
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