China's finance minister said that the central government plans to engineer a soft landing for the country's economy and plans were under consideration to introduce more flexibility into the renminbi exchange rate. Speaking in Berlin, Finance Minister Jin Renqing said that China would discourage reckless investment in certain sectors of the economy and regions of the country that he said were overheating. Jin said the government planned to reduce China's annual economic growth from 10% in 2003 to 7% via a combination of tax, monetary and price programs and further market reforms.
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