(MENAFN) According to China Daily, Bank of China (BOC) predicted in a report on that China's GDP will be around 7.2 percent in 2015, lower than the target set for this year, QNA reported.
The predictions made by a major state firm indicated that the Chinese economy may continue to slow down, although foreign analysts are forecasting that China will lower its GDP goal.
China aimed to expand its GDP by 7.5 percent in 2014, and it achieved 7.4 percent growth in the first three quarters. In 2015, the external environment will recover and the effect of reform measures will kick in.
"Still, overcapacity pressure, adjustment in the property sector and other adverse factors will drag down economic growth," a senior researcher with the BOC said in a statement.
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.