China lowers yearly growth target to 6.5 pct

Published 03.11.2015 21:23

China sent its clearest signal yet on Tuesday that the world's second-largest economy would lower its growth targets, with President Xi Jinping saying that expansion of only 6.5 percent a year would be enough to meet its goals. Jinping comments came as the ruling Communist party issued guidelines for its next five-year plan, a release being carefully watched by global investors spooked by the country's economic slowdown. The documents, which were released following a leadership conclave held in Beijing last week, did not include a numerical growth target. But according to the official news agency Xinhua, Xi said that annual growth should be no less than 6.5 percent in 2016-2020 if the country is to double GDP and incomes from 2010 levels by the end of the decade.

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