China May Cut 2014 Growth Target to 7%, State Economist Fan Says

China’s government may cut the country’s annual growth target to 7 percent next year, although the actual pace of expansion will be higher, according to Fan Jianping, chief economist at a state research institute.

The drop would be in line with the goal set in the country’s 2011-2015 five-year plan for annual average expansion of 7 percent, Fan, who works at the State Information Center under the National Development and Reform Commission, said in an interview in Shanghai on Sept. 7.