Here’s a Clear Sign China Will Set a Lower Growth Target
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China’s main government-backed research organization just gave one of the strongest signs yet that leaders will eschew broad stimulus to meet this year’s economic-growth target and plan a lower goal in 2015.
The Chinese Academy of Social Sciences today forecast a 7 percent expansion next year, according to the state-run Shanghai Securities News. The Beijing-based institution estimates growth of 7.3 percent this year, the newspaper reported on its website, lower than its 7.5 percent projection in December, which was also the government’s 2014 target rate.