The World Bank has cut its forecast for Chinese economic growth this year to 9.6 per cent – which would be nearly 2 percentage points lower than last year’s outcome – adding to a firming consensus that the economy will slow because of decelerating exports and a weakening global outlook.

The bank says in its quarterly report on the Chinese economy, however, that China is well-placed to manage the knock-on effects of any global slowdown because of a strong domestic economy and the government’s relatively buoyant financial position.