Key think tank scales back outlook for 2014

CASS cuts GDP forecast to 7.3%, citing the impact of downturn in property sector

The Chinese Academy of Social Sciences on Friday lowered its forecast for 2014 GDP growth to 7.3 percent, one of many institutions that are paring back their economic expansion outlooks for the nation.

The CASS cut its forecast from 7.5 percent to 7.4 percent just a few months ago. The latest forecast could be instrumental in decisions taken by the Central Economic Work Conference in December, domestic media reports said.