China's economic growth will be sustained in the "proper range" in the fourth quarter as the government backs pro-consumption and pro-investment policies and draw results, said Li Pumin, a top economist in China.
"I am confident we can achieve the annual growth target," National Development and Reform Commission (NDRC) secretary general Li Pumin said at a press conference.
Li pointed out that China's weakening investment index would drag the economy. According to data from the first eight months of 2014, China's urban fixed-asset investment rose 16.5 percent. But in the August-September period, the pace of growth treaded by 0.5 percent.
In order to sustain this impact, Li said that the Chinese government will focus on investments in major water conservation projects. Currently, China is spending an estimated 600 billion yuan ($97.6 billion) for such plans that include the decades-long South-to-North Water Diversion project.
For 2014, China has set an annual growth target of 7.5 percent. But with some economic key indicators not upholding to expectations in the third quarter, experts said that China might miss the goal.
Observing China's economic performance and policies, the World Bank lowered its 2014 growth prediction for the country from 7.6 percent to 7.4 percent, noting that the government's recent moves are growth-adverse.
On the other hand, the International Monetary Fund has fixed its forecast at 7.4 percent.
China has already reached a 7.4-percent economic growth in the first two quarters. Figures might change once third-quarter data are released on Oct. 21.