Report: Xi says China growth should be at least 6.5 percent

Staff Writer
Columbus CEO

BEIJING (AP) — President Xi Jinping said Tuesday that China's annual economic growth should be at least 6.5 percent in the next five years, the official Xinhua News Agency reported.

Xi said that growth rate was necessary to achieve the ruling Communist Party's goal of doubling the size of the economy by 2020 compared with 2010 levels, according to the report.

Chinese growth has slowed steadily over the past five years as the ruling party tried to steer the economy to a more sustainable expansion based on domestic consumption instead of trade and investment.

Xi's comment was the latest indication the party might reduce its official growth target, which has stood at 7 percent in recent years.