China keeps growth target at 6.5 percent, stays focused on financial risks

BEIJING (Reuters) - China aims to expand its economy by around 6.5 percent this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li Keqiang said Monday.

The goal was kept unchanged even though the economy grew 6.9 percent last year and exceeded the government's target. Sources previously told Reuters that China will maintain its growth target at "around 6.5 percent".

Economists had already expected the world's second-largest economy to lose some momentum this year as the government deepens its push to contain a build-up in corporate debt, while a war on pollution and a cooling property market weigh on its manufacturers.

Reinforcing views that Beijing's attention remains firmly fixed on credit risks and better quality growth, when Li unveiled the GDP target he omitted previous wording saying growth could be "higher if possible."


Source : Yahoo