ADB cuts China growth forecast
(07-12 17:27)
The Asian Development Bank slashed the growth forecast for China to 8.2 percent this year, from its previous estimate of 8.5 percent. The bank warned that the country's growth may slow more than expected in future as China moves to a more sustainable growth model. The bank also lowered its growth forecast for developing economies in Asia. It said the region will grow 6.6 percent this year, down from April's forecast of 6.9 percent. Regional growth had moderated in the first six months of the year due to reduced demand from developed countries, the bank added.
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