China to hit economic growth target: official  

發改委：經濟增長7.5%無懸念

最近數天四月份經濟運行數據接連出爐，CPI創18個月以來的新低，用電量增幅持續下降。社會上對中國經濟趨勢頗為憂心。國家發改委宏觀經濟研究院副院長陳東琪認為，今年經濟發展目標基本能實現。 [查看全文]

China will weather its economic decline in the second quarter this year and the 2014 growth target of around 7.5 percent will be realized, a senior official forecasted on Friday.

Chen Dongqi, deputy director of the institute of macroeconomic research under the National Development and Reform Commission (NDRC), said that China is still in a downturn but economic indicators have pointed to an upcoming rebound.

This is particularly the case in the purchase management index and port handling capacity, which will contribute to a macro economic performance that surpasses forecasts, according to Chen.

China's economic growth slowed to a six-quarter low of 7.4 percent in the first quarter of 2014.

Chen, however, believes that urbanizationwill create great potential for domestic demand, and surging consumption of information, services and tourism will fuel economic expansion.

Nationwide power consumption has grown by 4.6 percent year on year, but the speed of growth slowed from a year previously, triggering worries over the decelerating economy.

Chen attributed the shrinking power consumption to structural changes in China's industries, with the service sector booming but traditional industry in a period of reform.

Another NDRC official, Song Li, explained that the slower growth in power consumption last month was also partly caused by seasonal factors as electricity demand withered with the passing of winter.