China's GDP growth may fail to reach 2014 target of 7.5%

Economic growth in China may drop below the 7.3% level seen in the third quarter and fail to reach the 2014 GDP growth target of 7.5%, said experts.

According to China Daily, economic growth in China will slow down to the lowest level since the 2008 global financial crisis during the fourth quarter. The industrial output growth in China fell to a three-month low of 7.2% in November, compared with 7.7% in October, according to the National Bureau of Statistics.

Liu Ligang, chief economist of the ANZ Bank in China said that the government would ease the monetary policy to enhance domestic demand which has remained slow during 2014. A research note from Goldman Sachs said in light of the recent policy moves that it is clear that the monetary policy should not be too tight.