Nation 'ready for new era' of lower GDP growth rates

Analyst expects price pressures to be muted in 2015, with CPI at 2%

China will likely lower its growth target for next year at the upcoming Central Economic Work Conference, indicating Beijing's willingness to trade short-term growth for reforms, economists said on Monday.

The annual economic meeting, which is usually held in early December, has been closely watched as it will set the tone for the country's economic development and reform in the coming year.