However, over the past two years it has become clear that these rapid rates of economic growth have become entirely unsustainable. China is now planning for growth of around 7.5pc this year and most experts interpret this to mean the real rate of expansion in the economy will be closer to 4pc, or even lower. The trouble is that the stock market and investors have failed to take this slowdown in economic growth seriously. In this context, the sell-off in Chinese stocks could be interpreted in the market simply playing catch-up with economic fundamentals.