Growth in the world's second largest economy could slow to as little as 5 percent in the near-term, but that's no cause for concern, one analyst said.
"We are facing an inevitable deceleration in the Chinese economy. I see 5 to 6 percent per annum growth over the five years commencing January 2016," said Jonathan Pain, author of investment newsletter The Pain Report.
Bearish views on China's economy are not uncommon, with many analysts citing smaller dividends from investment-led growth, but Pain's view boils down to simple arithmetic.
"7.5 percent growth this year in China is equivalent to 12 percent in 2008, because the Chinese economy is 65 percent bigger today than it was then. So, we are going to see some natural deceleration in the headline rate of growth," he told CNBC on Thursday.
The world's second-largest economy grew 7.3 percent on year during the July-September period, its slowest pace in more than five years, jeopardizing Beijing's 7.5 percent target for 2014.
China's economy will grow to $10 trillion next year from around $9.3 trillion currently, Pain said, noting the prospect of 5-6 percent growth in a $10 trillion economy is not alarming.