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China's premier says 7.5 pct GDP target not low

(Xinhua)

13:32, March 14, 2012

Chinese Premier Wen Jiabao speaks during a press conference after the closing meeting of the Fifth Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 14, 2012. (Xinhua/Wang Jianhua)

BEIJING, March 14 (Xinhua) -- Premier Wen Jiabao said Wednesday that the 7.5 percent GDP growth target for 2012 is a result of the government's proactive macro-control and can not be viewed as low.

China's GDP has reached 47 trillion yuan (7.46 trillion U.S. dollars). On this basis, the growth rate of 7.5 percent can not be counted as low, not to mention the economy would keep expanding at this pace, Wen told a press conference after the conclusion of the annual parliamentary session.

Indeed, the Chinese economy faces slowing trend due to impacts from the European debt crisis and contracting overseas demands, Wen noted.

Under such circumstances, to lower the growth mainly aims to facilitate economic restructuring, the premier said.

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