China’s GDP growth to drop below 7% in 2015

摘要

The Chinese government has set GDP growth target at “around 7%,” but the figure is expected to be lower. The news added pessimism to the steel product and iron ore markets, leaving no hope that steel consumption will rebound to previous heights. Lower GDP target was announced by the Chinese Premier at the National People’s Congress. “The government will slow down GDP growth rate “to about 7%,” meaning it could breach that level, actually.