China lowers 2015 growth target to 'around 7%'

11:21 AM | 5 Mar, 2015
China lowers 2015 growth target to 'around 7%'
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BEIJING (APP) - China lowered its 2015 economic growth target to "around seven percent", state media said Thursday, as authorities attempt to set the world's second-largest economy sustainable on a more sustainable expansion path.

The goal announced by the official Xinhua news agency comes after China's economy expanded 7.4 percent in 2014, the slowest pace in 24 years.

Last year's target was "about 7.5 percent". China also lowered its target for annual inflation to "around three percent", Xinhua said.