China targets 7.5 GDP growth for 2014
Beijing: China on Wednesday targeted a modest 7.5 percent GDP growth in 2014, unchanged from last year, as the government looks to steer the economy onto a more sustainable and balanced path.
The NPC session began by silent tribute to the victims of the Kunming attack.
Presenting his first work report after completing an year in the office, Li set this year’s economic growth target at 7.5 percent, the same as last year’s target and slightly lower than the 7.7 percent actual growth in 2013.
Other key economic goals, such as consumer price index and unemployment rate, remain generally the same as those of last year.
Li said the reform will focus on the most wanted areas, the most pressing problems and the sections having the biggest consensus.
China faces great challenges and complex problems in pushing forward economic and social development, he said.
“The foundation for sustaining steady economic growth is not yet firm, and the internal impetus driving growth needs to be increased,” Li said.
The world economic recovery still faces instability and uncertainties, as macro-policy adjustments made by some countries introduce new variables and emerging economies are facing new difficulties and challenges, he said.
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