2015年CRI 2014年中国经济增长7.4% 中国将支持苏黎世建人民币离岸市场（在线收听）

New figures show China's economic growth slowed to just 7.4 percent last year, the weakest rate in over two decades.

The rate is within market expectations though, and comes amid the government's efforts to rebalance the economy, weaning itself off overreliance on investment and trade in favor of domestic consumption.

The International Monetary Fund has cut its forecast for the China's economic growth this year to 6.8 percent.

It's widely expected Chinese policy-makers are going to set their own growth targets for this year at around 7-percent.

China and Switzerland are poised to sign a financial deal to pave the way for the establishment of an offshore renminbi market in Zurich.

The deal is to be signed during Chinese Premier Li Keqiang's visit to Switzerland, where he is due to attend the annual World Economic Forum in Davos and pay a working visit to the country.

Under the deal, China will give Switzerland a quota of about 8 billion U.S. dollars to support the establishment of the Zurich offshore RMB market.

A Chinese bank will be permitted to open a branch in the Swiss financial hub after the RMB clearance plan has been approved by both sides.