Expert says growth likely to exceed 7%

The Chinese economy is likely to achieve higher than 7 percent growth next year, supported by a likely rebound in private investment that has remained sluggish for months, according to Li Daokui, economist and director of the Center for China in the World Economy at Tsinghua University.

Major growth momentum comes from an expected uptick in private investment that takes up around 60 percent of total investment, Li said at the Fortune Global Forum on Thursday.

"The government's efforts to boost the private sector are expected to take effect earlier next year," said Li. "It was really uncommon to see one of the most vigorous drivers of the economy drop to such a low level in recent months. If that part can be lifted, there is no reason to see a downturn in economic growth."