PBOC’s Song: China’s Fourth-Quarter Growth May Slow to 7.2%

China’s economic growth will slow to 7.2 percent in the current quarter, down from the previous three months, as domestic demand weakens, said Song Guoqing, an academic member of the People’s Bank of China monetary policy advisory committee.

The nation’s economy will probably expand 7.3 percent next year, Song said at a forum in Beijing on Oct. 25. That view contrasts with a prediction by Fan Jianping, chief economist at a state research institute, who said he expects 7 percent growth in 2015 unless the central government imposes stronger-than-expected stimulus measures.

A decrease in exports and property development, two “engines” that fueled China’s rise to become the world’s second-largest economy, will be the main cause of a slowing of growth, Fan, who works at the State Information Center under the National Development and Reform Commission, told an industry conference Oct. 25.

Bloomberg

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