China sets 2018 growth target at 'around 6.5 percent' - KWWL - Eastern Iowa Breaking News, Weather, Closings

China sets 2018 growth target at 'around 6.5 percent'

Posted: Updated:

Chinese leaders have set this year's official economic growth target at "around 6.5 percent," which is down slightly from 2017 but would be among the world's strongest if achieved.

The announcement Monday came at a meeting of China's ceremonial legislature that is overshadowed by proposed constitutional changes that would allow President Xi Jinping to remain in power indefinitely.

The growth target -- down from last year's "6.5 percent or higher if possible" -- reflects Beijing's promises to pursue more sustainable growth based on domestic consumption instead of exports and investment.

However, it still is high enough that private-sector analysts have questioned whether it can be achieved without setting back reform efforts by pumping up bank lending and government stimulus spending.

Powered by Frankly