HSBC: China's growth is slowing

A senior economist at HSBC said that China's economic growth had reached its peak rate due to the slowdown in private investments that has followed Beijing's new credit tightening policies, the Malaysia Star reported. In an interview with the paper, Qu Hongbin said that the government was trying to slow down investment in a few key areas, like the steel industry. Qu predicted that, with the deceleration of private investment, China's GDP growth would only reach 7.5% next year, compared with 9% this year.