General Electric Co. believes China's economy will slow this year slightly more than the company originally forecast.
Chinese economic growth may drop below 8%, according to GE Vice Chairman John Rice, who oversees the multinational firm’s international operations.
“The growth rate in China is going to be a little bit lower than we thought a year ago. But still a very manageable, healthy if you will, 8%," he told Reuters. "If it does drop below 8% for a while, that's not the end of the world either."
China’s economy cooled to a 9.5% growth rate last year after three decades averaging 10% annual growth in GDP.
GE still expects to garner double-digit revenue growth in China, Rice said. GE generates about 60% of its revenue overseas.