China maintains growth target at 7.5%, focuses on reforms

China is signalling that its policy focus towards reforms and rebalancing the economy rather than growth would continue as it sets growth target for 2014 at 7.5% - AFP Photo.

BEIJING: China announced on Wednesday it would maintain its economic growth target for 2014 at about 7.5%, as expected, signalling that its policy focus would be slanted in favour of reforms and rebalancing the economy.

Premier Li Keqiang, in a report to the National People's Congress at the start of its annual session, also said the government would maintain an inflation target of around 3.5% for 2014. Broad M2 money supply growth would be kept at 13 %, also widely expected.