China has cuts its economic growth target to 7.5 per cent from an 8 per cent goal in place since 2005, a signal that leaders are determined to reduce reliance on exports and capital spending in favor of consumption.
Officials will also aim for inflation of about 4 per cent this year, unchanged from the 2011 goal, according to a state-of-the-nation speech that Premier Wen Jiabao delivered at the annual meeting of the National People’s Congress in Beijing...
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