China's GDP to grow 7.5% in 2014: HSBC

Beijing

THOUGH some economic indicators point to slower third-quarter growth for the Chinese economy, banking giant HSBC has stuck to its forecast of 7.5 per cent GDP (gross domestic product) growth in 2014.

China's economy bottomed out in the second quarter, with an above-consensus GDP print at 7.5 per cent, and has continued on the path of recovery, HSBC said in its latest research report to clients.

Although there are some signs of weaker growth momentum, such as a lower HSBC manufacturing purchasing managers' index, the bank believes that China's policymakers will s…