China sets economic growth target of 6.5 percent

Updated 2018-03-05 08:42:02

A worker checks the quality of wind turbine fans in Lianyungang, Jiangsu province.

China will continue to pursue stable economic growth this year, setting its GDP growth target at around 6.5 percent and reducing its fiscal deficit ratio target to 2.6 percent, according to the annual Government Work Report to be delivered by Premier Li Keqiang on Monday morning.[Special coverage]

Li is scheduled to present the report at the first session of the 13th National People's Congress.

The country will continue to adopt a prudent, neutral monetary policy and a proactive fiscal policy to maintain stable economic growth while taking forceful measures to ward off financial risks, according to the draft report, which was released to reporters ahead of the session.

China's year-on-year GDP growth was 6.9 percent in 2017, higher than the "around 6.5 percent" target set by the government. Analysts generally forecast that growth will ease this year but remain on track.

The fiscal deficit is set at 2.38 trillion yuan (5.2 billion) this year and the fiscal deficit to GDP ratio is set at 2.6 percent, compared with 3 percent set last year, according to the report.

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