Bolton warns Chinese growth will miss estimates this year

Fidelity's Anthony Bolton has warned Chinese GDP growth will come in at around 7.5% this year, undershooting consensus forecasts for growth of between 8% and 8.5%.

Bolton, manager of the £558m Fidelity China Special Situations investment trust, warned emerging markets are not immune from headwinds facing Western economies. As a result, he expects the authorities to put the brakes on growth, bringing in further tightening mechanisms this year which will lead to a reduction in GDP growth. "China will continue tightening to slow down its economy as the policymakers know the country is not immune from the troubles which are facing developed economies," said Bolton. "Therefore Chinese GDP growth will deliver between 7%-8% this year, so around 7.5%...