China, the world's second-largest economy, has
set its growth target at about 7% for this year, the government said.
The announcement was made by Premier
Li Keqiang at the start of the National People's Congress on Thursday.
The target is lower than 7.5% set
last year, which was missed after China grew at its slowest
pace in 24 years.
The new target is in line with
China's plan to guide the economy towards slower and more sustainable growth.
China's economy expanded by 7.4%
last year from 7.7% in 2013, following a cooling of the property market,
slowing factory activity and easing business and government investment.
Growth of 7% in 2015 will mark the
country's weakest expansion in a quarter of a century.
Other targets
Premier Li also said the government
would have a consumer inflation target at about 3%, down from 3.5% in 2014.
The country's annual inflation hit a
five-year low in January of 0.8% - below expectations of a 1% rise. Factory
deflation also worsened - highlighting persistent weakness in the economy.
Mr Li said that the economy would
face greater difficulties this year, compared to the previous one.
Over the weekend, China cut interest
rates for the second time in three months to boost lending and growth in the
economy.
The government also pledged to rein
in local government debt and deepen reforms of state-owned businesses.
It aims to create 10 million jobs
and keep the urban unemployment rate at 4.5% or below.
In an attempt to push for financial
reforms, Mr Li announced that a trial of a trading link between its Shenzhen
and Hong Kong stock markets would be launched at an "appropriate
time".
The move comes after a link between
the Shanghai and Hong Kong stock exchanges was established in November -
allowing investors to trade stocks on both exchanges.
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