China's premier: Growth of 6.5 percent expected through 2020
BEIJING (AP) — China's top economic official says Beijing expects annual growth of "at least 6.5 percent" through 2020.
The comments by Premier Li Keqiang are the first indication of a possible official growth target since the Communist Party leadership pledged last week to double the size of the economy from its 2010 level by 2020. Last year's growth target was 7 percent.
According to a transcript released by the Chinese Cabinet, Li said in a speech in Seoul, "We propose to achieve the goal of creating a 'moderately prosperous society' by 2020, which requires annual economic growth of at least 6.5 percent over the next five years."
Economic growth in the latest quarter declined to a six-year low of 6.9 percent.