China's 2015 outlook in three words

It's been a bumpy ride for China's economy this year, with multiple growth scares followed by bouts of policy stimulus, and next year will be no different, says Goldman Sachs, telling investors to prepare for a moderate but "choppy growth deceleration".

A housing market adjustment, decelerating credit growth and an advancement of difficult structural reforms in areas such as local government debt management and interest rate liberalization, will present continued headwinds for the world's no. 2 economy in 2015.

Read more: "As the government tries to strike a balance between supporting growth and pushing forward reforms, we see a fair likelihood of a repeat of 2014's stop-and-go pattern in economic momentum in the New Year,"