China Economy to Grow 7.4 Per Cent In 2014

World’s second largest economy China’s economy is likely to grow by 7.4 per cent this year, slightly below the government's target, and expand 7 per cent in 2015, according to China’s Development Research Centre (DRC).

DRC said China can still maintain annual average growth of 7 per cent in the next 10 years. Data this week showed China's annual economic growth slowed to 7.3 per cent in the third quarter – the weakest pace since the depths of the global financial crisis, and down from 7.5 per cent in the previous quarter.

China's exports are likely to grow around 6 per cent this year from 2013, Yu said. He also predicted that China's combined exports and imports could grow 5-10 per cent in the coming years.