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China sets economic growth target at 6.5 to 7 percent

China's Premier Li Keqiang announced a growth target of 6.5 to 7 per cent. Credit: CCTV

China has set its economic growth target at 6.5 to 7 percent for 2016, according to Premier Li Keqiang.

Premier Li revealed the figure at the opening meeting of the fourth annual session of the 12th National People's Congress (NPC) in Beijing.

We have tried to balance it with the goal of building a moderately prosperous society in all aspects and the needs for advancing structural reform.

The growth rate should also be conducive to stabilising and guiding market expectations. The aim of maintaining stable growth is primarily to ensure employment and promote people's wellbeing.

And a growth rate of between 6.5 percent to 7 percent will allow for a relatively adequate employment.

– China's Premier Li Keqiang
The 12th National People's Congress is taking place in Beijing. Credit: CCTV

He also said that China will keep the registered urban unemployment rate within 4.5%, ensure the stability and a steady growth of import and export volumes and continue to cut the emissions of major pollutants.

A comprehensive analysis of all factors shows that China will face more and tougher problems and challenges in its development this year, so we must be fully prepared to fight a difficult battle, Premier Li added.

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