Li Keqiang announces 6.5% annual growth target for 2016-2020

Chinese Premier Li Keqiang revealed China would pursue an annual goal of  6.5% economic growth for the next five years on Sunday, South China Morning Post reported, citing a speech from the premier to a group of business leaders in Seoul, South Korea. “China’s slowdown is at a gradual pace,” Li said. “The growth slowed from 8%, to 7.7%, 7.4% or about 7%. But the economic output was still increasing at an orderly pace.” China’s third-quarter GDP expanded 6.9 per cent from a year ago, failing to hit Beijing’s target  of 7% and marking the slowest growth since the first three months of 2009.