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China cuts growth target to 6.5% this year - Premier Li Keqiang | |
(about 17 hours later) | |
A report due to be delivered by Chinese Premier Li Keqiang cuts the country's growth target for this year to around 6.5%, down from 6.5 to 7% last year. | |
He is due to deliver the report to the country's rubber-stamp parliament, the National People's Congress (NPC), which is gathering in the capital Beijing. | |
More than 3,000 legislators are meeting in the Great Hall of the People for 10 days, starting on Sunday. | |
The economy and pollution are among issues expected to be discussed. | |
The Chinese economy expanded at its slowest pace in 26 years in 2016. | The Chinese economy expanded at its slowest pace in 26 years in 2016. |
The NPC and its advisory body hold ceremonial meetings every year known as "lianghui" or "two sessions". | |
The advisory body, the Chinese People's Political Consultative Conference, began its meeting on Friday. | |
The growth target was reported by news agencies shortly before the premier was due to speak. | |
NPC leaders are tolerating slightly slower economic growth this year to give them more room to push through some painful reforms to deal with a rapid build-up in debt, Reuters news agency reports. | |
State news agency Xinhua said legislators and advisers would, among other issues, discuss globalisation "at a time when certain Western powers are retreating into protectionism and isolation". | |
The meetings are the first since the election of US President Donald Trump, who has called for higher tariffs on Chinese imports. | The meetings are the first since the election of US President Donald Trump, who has called for higher tariffs on Chinese imports. |
Xinhua also reported that national defence and relations with Taiwan, Hong Kong and Macau would be discussed. | |
Prime Minister Li is also expected to provide more detail on Sunday about the country's defence budget, which is planned to rise by 7%. | Prime Minister Li is also expected to provide more detail on Sunday about the country's defence budget, which is planned to rise by 7%. |
This year's "lianghui" comes ahead of a major Chinese Communist Party congress, due to be held later this year. | This year's "lianghui" comes ahead of a major Chinese Communist Party congress, due to be held later this year. |
That congress will confirm party chief and president Xi Jinping's second term in office, as well as announce changes in the party's top leadership. | That congress will confirm party chief and president Xi Jinping's second term in office, as well as announce changes in the party's top leadership. |