China Targets 7.5% Growth in 2012 as Exports Slow

[Liberty]

http://www.bloomberg.com/news/2012-03-04/china-targets-7-5-growth-this-year-as-european-debt-crisis-slows-exports.html

China pared the nation’s economic growth target to 7.5 percent from an 8 percent goal in place since 2005, a signal that leaders are determined to reduce reliance on exports and capital spending in favor of consumption.

 

Officials will also aim for inflation of about 4 percent this year, unchanged from the 2011 goal, according to a state- of-the-nation speech that Premier Wen Jiabao delivered to about 3,000 lawmakers at the annual meeting of the National People’s Congress in Beijing today.