State Research Center: China’s Economy Set for Steady Growth
The risk of a steep slide in China’s economy has reduced, the head of a government research center said on Sunday, adding the country had moved through an “L-shaped” pattern of slowing to now “horizontal” growth. China’s economy grew 6.7 percent last year, according to the government, the slowest pace in 26 years. The country met its growth target with support from record bank loans, a speculative housing boom and billions in government investment. But as Beijing moves to cool the housing market, slow new credit and tighten its purse …