China targets growth of 6.5% amid drive to reduce risk

Ensuring stability: A live image of Li delivering his report at the National People’s Congress opening ceremony is seen on a laptop in a restaurant in Beijing Railway Station. Li outlines fiscal budget deficit ratio goal at 3 of gross domestic product, also the unchanged yuan exchange rate will be further liberalised. – AFP

BEIJING: China set a 2017 growth target of “around 6.5%, or higher if possible” as focus shifts to easing risk and ensuring stability before a twice-a-decade leadership transition this year.

The objective outlined in premier Li Keqiang’s work report to the National People’s Congress in Beijing compares with last year’s target range of 6.5% to 7%. Economists surveyed by Bloomberg project 6.5% expansion this year.