ADB lowers China's growth prediction to 8.2% in 2012

The Asian Development Bank (ADB) Thursday revised its prediction on China's economic growth to an increase of 8.2 percent in 2012 and 8.5 percent in 2013, lower than its forecast in April.

ADB made the prediction in the newly published Asian Development Outlook Supplement. The agency predicted in April that China's gross domestic product will increase 8.5 percent in 2012, and then rise to 8.7 percent in 2013.

The ADB said China has seen a fall in net exports, industrial production, and in fixed asset investment, although government spending on health, education and big infrastructure projects should give the economy something of a boost.

As the country moves to a more sustainable growth model, growth may slow down more than expected, said the report.