(MENAFN) Analysts say that China is set to cut its growth target for the first time in three years and ramp up spurs as the economy faces an increased downward pressure, The Peninsula Qatar reported.
Nomura economists expected the government to lower its 2015 economic targets for GDP growth to 7.0 percent from 7.5 percent in 2014 and CPI inflation to 3.0 percent from 3.5 percent.
China last lowered the target earlier in 2012 to 7.5 percent from a previously forecasted 8 percent, while a drop to 7 percent would mark the lowest since 2004.
The President is trying to put China's consumers at the center of the economy, rather than investment and exports, and is ready to tolerate slower expansion in GDP to achieve more sustainable growth.
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