Mar 5, 2014

China sets growth target at 7.5% for 2014

China has set its economic growth target for the year at 7.5 percent, as it looks to continue its efforts to stabilise the economy.
 The country also set its inflation goal at 3.5 percent, aimed at keeping prices in check. After years of blistering growth rates, China has seen its rate of expansion slide after a slowdown domestically and in key markets.
In 2013, the country grew at a pace of 7.7 percent, about the same as in 2012. Recent manufacturing data has also indicated a slowdown in activity in the world's second largest economy. The latest targets were announced by Premier Li Keqiang in his first appearance at China's annual parliamentary session, the National People's Congress.

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