MW: Chinese leader sets growth target of âat leastâ 6.5%
Chinaâs Premier Li Keqiang appeared to set a floor for growth in the worldâs second-largest economy, saying it will expand at a pace of âat leastâ 6.5% annually over the next five years.
In two separate speeches delivered on Sunday in Seoul, Li signaled that Beijing will set the growth target below this yearâs goal of âabout 7%,â which looks increasingly difficult to fulfill give a lack of momentum into the year-end. It was the first time Chinaâs leaders have publicly given a figure for annual growth lower than 7% in coming years.
âWe have capacity to keep annual economic growth at above 6.5% and meet the targets of creating a âmoderately prosperous societyâ by 2020,â he said in a meeting with business leaders in Seoul, according to the state-run Xinhua News Agency.
Liâs remark sparked speculation over whether China lowered its economic growth target in its next five-year plan, which was approved by the Communist Party in its key meeting last week.