China sets modest growth target ahead of leadership reshuffle


China set a relatively modest economic growth target of around 5% for this year, as it prepared to shake up the leadership of its financial system.

The goal, announced by outgoing premier Li Keqiang in his last work report to the annual session of the National People’s Congress (NPC), was at the lower end of expectations. Policy sources had told Reuters the authorities could set as high a target as 6%. It is also below last year’s target of around 5.5%.

China has set a deficit to GDP target at

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