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Premier Li Keqiang today slashed China’s GDP target to a 25-year low and omitted customary mention of defence allocation as the Parliament started annual meet hailing ‘core leader’ status of President Xi Jinping. Li, set GDP growth target at around 6.5 per cent for this year, down from last year’s 6.7 per cent, indicating the continuation of slowdown.
This closely-watched target is a 25-year low, down from last year’s actual growth of 6.7 per cent. The previous low was a six per cent target for gross national product growth in 1992, a report by state-run Xinhua news agency said.
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