China sets 2018 growth target at ‘around 6.5 per cent’
The announcement Monday came at a meeting of China’s ceremonial legislature that is overshadowed by proposed constitutional changes that would allow President Xi Jinping to remain in power indefinitely.
The growth target — down from last year’s “6.5 per cent or higher if possible” — reflects Beijing’s promises to pursue more sustainable growth based on domestic consumption instead of exports and investment. However, it still is high enough that private-sector analysts have questioned whether it can be achieved without setting back reform efforts by pumping up bank lending and government stimulus spending.
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