Mubasher: It is expected that the economic growth rate in China in general and the target growth set by the government will walk hand in hand but at a slightly less than 7% in the coming period due to domestic and foreign obstacles, a report by Qatar-listed Qatar National Bank (QNB) has said.

China’s prime minister Li Keqiang previously revealed the general scheme for the government’s goals regarding the Chinese economy. The premier announced that the government will reduce the targeted growth rate to 7% in 2015.

China reported 0.1% less growth than the official intended 7.5% in 2014, marking the first time since 1998 that the republic posts a growth rate that was less than the targeted rate.

This decline was primarily due to a slowdown in investment growth in addition to global weak demand on Chinese exports as well as retreating growth in private consumption, according to QNB’s report.