China has set its economic growth target for the year at 7.5%, as it looks to continue its efforts to stabilise the economy. The country also set its inflation goal at 3.5%, aimed at keeping prices in check.
After years of blistering growth rates, China has seen its rate of expansion slide after a slowdown domestically and in key markets. In 2013, the country grew at a pace of 7.7%, about the same as in 2012.
Recent manufacturing data has also indicated a slowdown in activity in the world’s second largest economy.
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