Presenting his first working report at the annual meeting of the National People's Congress (NPC), Chinese Prime Minister Li Qiang revealed that China is targeting economic growth of about 5 percent this year.
China is transforming its development model, reducing excess industrial capacity, neutralizing real estate risks, and cutting wasteful domestic government spending. The growth target is similar to last year's target but will require stronger government stimulus from China to achieve it, as the economy still relies on investment in government infrastructure, which has led to a mountain of debt piling up on regional governments.
Source (Al-Arabiya.net Website, Edited)
