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People's Daily Online>>China Politics

Parliament session starts, China to 'make progress while maintaining stability'

(Xinhua)

10:28, March 05, 2012

BEIJING, March 5 (Xinhua) -- China opened its annual parliamentary session on Monday, cutting the economic growth to 7.5 percent and vowing to "make progress while maintaining stability" in 2012.

This is the first time for China to lower its annual economic growth target after setting it around 8 percent since 2005.

China's economy grew by 9.2 percent in 2011 after an expansion of 10.4 percent in 2010.

Premier Wen Jiabao delivers a report on the work of the government at the opening meeting, which is presided over by National People's Congress (NPC) Standing Committee Chairman Wu Bangguo.

Nearly 3,000 NPC deputies from across the country are present at the opening meeting along with top Communist Party and state leaders Hu Jintao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang.

The year 2012 is important for China amid a leadership transition at the 18th National Congress of the Communist Party of China (CPC) to be convened later this year.

Reviewing the government work in 2011, Wen said, "We consolidated and built upon our achievements in responding to the global financial crisis, and got the 12th Five-Year Plan period off to a good start."

However, he said, "We are keenly aware that China still faces many difficulties and challenges in economic and social development."

Internationally, the road to global economic recovery will be tortuous, the global financial crisis is still evolving, and some countries will find it hard to ease the sovereign debt crisis any time soon, according the report.

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