China's third-quarter economic growth was 4.9 percent, and analysts predict that future growth would be considerably worse, with some even predicting that GDP growth in the fourth quarter will fall 4 percent or less.

China's economic growth rate "has not bottomed out," according to ANZ Bank, which expects the momentum to continue to fall to 3.6 percent in the fourth quarter and forecasts a growth rate of 3.6 percent. The annual rate will fall from 8.3 percent to 8%.

UBS bank economists have reduced their China Annual Economic Growth projection from 8.2 percent to 7.6 percent, implying that the Q4 GDP growth rate will continue to slow. In comparison to the same period last year, the increase was 2.7 percent