Eco­nomic tar­get for 2014 ad­justed down to 7.5%

China Daily (Hong Kong) - - BUSINESS -

Bei­jing’s eco­nomic growth tar­get for 2014 will slow to 7.5 per­cent from the 8 per­cent ex­pan­sion goal in 2013, said Guo Jin­long, Party chief of the mu­nic­i­pal­ity, as re­ported by Peo­ple’s Daily on Wednes­day. The tar­get for 2014 is “not low” and is in line with an ad­justed long-term plan, Guo said. It aimed at se­cur­ing em­ploy­ment and sta­bi­liz­ing mar­ket ex­pec­ta­tions, Guo added. An­a­lysts said that it may set a tone for other cities and prov­inces as the lead­er­ship is seek­ing a more sus­tain­able and high-qual­ity growth pat­tern while sac­ri­fic­ing high-speed de­vel­op­ment.

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