China's GDP growth forecast is cut to 7.4% by HSBC for both 2013 and 2014 from 8.2% and 8.4%...

|By:, SA News Editor

China's GDP growth forecast is cut to 7.4% by HSBC for both 2013 and 2014 from 8.2% and 8.4% previously. HSBC's view is now south of consensus as chief economist Qu Hongbin says reform measures - positive in the long-term - will actually be harmful to growth in the more immediate future. Shanghai (FXI, CAF) continues to slide, falling another 0.75% overnight.