GDP growth likely to drop to 7.3% next year

China's growth rate next year will probably drop to 7.3 percent, according to a report released by the China International Capital Corp Ltd on Monday.

The government will likely cut growth targets for 2014 to 7 percent, compared with this year's 7.5 percent, it said.

CCIC hiked its forecast of M2 growth, a broad measure of money supply, to 14 percent for this year, but said the pace would moderate to 13 percent in 2014.

And new yuan loans extended by commercial lenders next year will stand at 9.9 trillion yuan ($1.61 trilion), it added.

The company maintained its GDP growth forecast for 2013 at 7.7 percent, while it cut the inflation rate forecast to 2.6 percent.