There have been concerns whether China can sustain its high growth rate amid a global slowdown
The World Bank has cut its growth forecast for China amid warnings of slower but more stable global growth over the coming months.
The bank now expects the China to grow 7.7% in 2013, down from its earlier projection of 8.4%.
It also cut the forecast for global economic growth to 2.2% from 2.4%.
It said that growth remained subdued in high income countries, especially in Europe, despite improvements in financial conditions.
"While there are markers of hope in the financial sector, the slowdown in the real economy is turning out to be unusually protracted," said Kaushik Basu, chief economist at the World Bank.
"This is reflected in the stubbornly high unemployment in industrialised nations, with unemployment in the eurozone actually rising, and in the slowing growth in emerging economies."
Source: BBC News - Business http://www.bbc.co.uk/news/business-22883830#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
