This lower target was announced "on Sunday morning by Premier Li Keqiang in his annual “work report” to China’s parliament, the National People’s Congress. "
Other comments in the article of note:
- "Reflecting Beijing’s caution, Mr Li said the government’s fiscal deficit target would remain unchanged at three per cent of GDP; last year it came in at 3.8%."
- "Retails sales growth is also expected to moderate slightly to ten per cent this year."
- "In his work report, Mr Li also predicted that fixed asset investment, a key driver for the world’s second-largest economy, would increase nine per cent. Fixed-asset investment grew only 8.1 per cent last year, below the government’s initial target of 10.5 per cent."