Li: China needs economic growth at 7.2%

Premier Li Keqiang said China must achieve annual economic growth of 7.2% to create jobs and should not expand already loose monetary policies, Reuters reported, citing state media. In one of the few occasions when a top official has specified the minimum level of growth needed for employment, Li said calculations show China’s economy must grow at that rate annually to create 10 million jobs a year. His remarks were made at a union meeting two weeks ago but were only published in full this week, just days before a pivotal Communist Party plenum to set policy opens.