China aims for 7.5% growth

<p>The Chinese economy has gone through a minor slowdown of late.</p>

China has revealed it is aiming for 7.5 per cent economic growth for the full year 2014.

The Asian nation has gone through a minor economic slowdown in recent months but is setting the ambitious target to show it can compete with major global rivals such as the US.

However, as China experienced 7.7 per cent economic growth in 2013, it may be some time yet before the country sees an improved level of expansion in the economy. An initial goal of 3.5 per cent has also been set for inflation.

Paul Tang, chief economist with the Bank of East Asia in Hong Kong, stated that the figures were "conservative" and in line with the expectations of analysts in advance of the announcement.

He said: "Slower economic growth is already expected for this year. Tightening of fixed-asset investment and lending are seen to remain as the major focuses."

Although China was able to ride the wave of the global financial crash more comfortably than many countries, growth in the Asian nation has been stagnant for the last two years.

Learn about the Asian markets and CFD trading at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.