China keeps 7.5% GDP growth, 3.5% inflation targets for 2014

05 March 2014 05:34  [Source: ICIS news]

SINGAPORE (ICIS)--China will maintain a reasonable economic growth target of 7.5% for the third year in 2014, with consumer price inflation to be kept at an average of around 3.5%, Premier Li Keqiang said in his first government work report on Wednesday.

China is bent on implementing pro-active fiscal and monetary policy, instead of resorting to short-term stimulus measures to ensure its economy stays stable-to-firm, Li said at the 12th National People’s Congress (NPC).

In 2013, the economy grew at an annual average of 7.7%, while inflation was kept at an average of 2.6%.

The economy should be able to maintain a moderate and even high growth despite downward pressures, amid continued industrialisation and urbanisation in China, Li said.

By: Viola Pan
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