Local governments lower sights for growth

Few achieved GDP targets in 2014; resource producers, heavy industrial bases hit hardest

Virtually every provincial-level government has lowered its growth target for this year, reflecting mounting downward pressure at the local level and providing further evidence that the central government will cut the national target to 7 percent.

Of 28 provincial-level governments that have announced targets, 26 have cut their GDP growth goal by 0.5 to 3 percentage points.