Goldman Sachs has lowered China's 2013 GDP forecast from 7.8% to 7.4% besides lowered the 2014 GDP forecast from 8.4% to 7.7%. The corporation stated that China is trying to control informal lending and slow down the credit growth thus it indicates that the government has shifted its priority from growth to reform. Although these policies are useful in achieving more sustainable medium-term growth, however it would challenge the government’s patient on cyclical slowdown. Therefore, these reforms are not conductive to short-term economic growth.