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China's premier says 7.5% GDP target not low
Source: Xinhua |
March 14, 2012, Wednesday
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Online Edition
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PREMIER Wen Jiabao said today that the 7.5 percent GDP growth target for 2012 is a result of the government's proactive macro-control and can not be viewed as low.
China's GDP has reached 47 trillion yuan (US$7.46 trillion). On this basis, the growth rate of 7.5 percent can not be counted as low, not to mention the economy would keep expanding at this pace, Wen told a press conference after the conclusion of the annual parliamentary session.
Indeed, the Chinese economy faces slowing trend due to impacts from the European debt crisis and contracting overseas demands, Wen noted.
Under such circumstances, to lower the growth mainly aims to facilitate economic restructuring, the premier said.
China's GDP has reached 47 trillion yuan (US$7.46 trillion). On this basis, the growth rate of 7.5 percent can not be counted as low, not to mention the economy would keep expanding at this pace, Wen told a press conference after the conclusion of the annual parliamentary session.
Indeed, the Chinese economy faces slowing trend due to impacts from the European debt crisis and contracting overseas demands, Wen noted.
Under such circumstances, to lower the growth mainly aims to facilitate economic restructuring, the premier said.
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