OECD cuts China GDP forecast

China's economic growth is likely to slow to 7.4 percent in 2014 from 7.7 percent last year due to the government's drive to curb credit risk and excessive factory capacity, the Organisation for Economic Co-operation and Development (OECD) said on Tuesday.

In November, the OECD had predicted China's economic growth could accelerate to 8.2 percent in 2014.

The OECD attributed the slower growth forecast to factors including the Chinese government's efforts to rein in the shadow banking sector.