Deutsche Bank economist says China GDP to grow 8.6% in 2014

BEIJING - Ma Jun, Deutsche Bank's chief China economist, says China GDP is likely to grow by 8.6% this year, in contrast to a number of financial institutions predicting a growth fall to around 7.5%.  He believes a pick-up in recovering US and European economies will drive exports dramatically, while excess capacities in China’s struggling industries like solar, cement and shipping are being eased.

While some efforts may de-leverage and hinder growth to some extent, Ma remains positive that this year China will benefit from wider access to private capital, which will tap into hidden potential in the economy. However Ma, factors that may bring challenges to this year's economic outlook include tapering of the US Fed's quantitative easing policy, unrelenting home prices and political uncertainties in geo-political areas such as East Asia.

Financial institutions including Moody's Investors Service, Minsheng Securities, Bank of Communications and Bank of America Merrill Lynch recently forecast China GDP growth at 7.5-7.6%. The Government itself has yet to release an official GDP target