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China's economy focus of this year's FutureChina Global Forum

Published on Jul 17, 2014 3:00 PM

SINGAPORE - China will likely meet its 7.5 per cent economic growth target for this year, economists at a major forum here said, though a further slowdown is expected over the next 18 months given the absence of new growth engines.

"We are in the habit of asking what's the growth driver in China, and many hope to see something that would propel economic growth back to the eight or nine per cent levels. But such growth drivers are not there," said Dr Shen Minggao, Citigroup's head of China research.

Added Mr Li Wei, an economist with Standard Chartered Bank: "I can't see, within the next 18 months, any major new growth drivers that would boost the Chinese economy."

The two economists and several others were speaking at the opening day of the FutureChina Global Forum held at the Shangri-La Hotel on Thursday morning. The two-day event, now into its fifth year, brings together top government and business leaders as well as leading thinkers on a broad range of China-related issues.

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