World Bank cuts China growth forecast

2014 target revised to 7.4 percent, with 7.2 percent for 2015

The World Bank said on Monday in Singapore that it has cut its growth target forecast for China to 7.4 percent in 2014 and 7.2 percent in 2015, as the country pushes forward reforms to address financial vulnerabilities and structural constraints.

"Measures to contain local government debt, curb shadow banking and tackle excess capacity, high energy demand and high pollution will reduce investment and manufacturing output," it said.