China's economy set for steadier growth: state research centre

Beijing

THE risk of a steep slide in China's economy has been reduced, the head of a government research centre said on Sunday, adding that the country had moved through an "L-shaped" pattern of slowing to now "horizontal" growth.

China's economy grew 6.7 per cent 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.