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China signals focus on reforms and leaner, cleaner growth

4 years ago40 views

reuters

Reuters

China's leaders gather in Beijing amid the pomp and splendour of the Great Hall of the People.

Three thousand hand-picked delegates arrive on the opening day of the National People's Congress.

They're here to listen to China's plan for economic and social development.

Beijing announced a growth target of 7.5% -- the highest level among the world's major economies. Many analysts say maintaining that kind of breakneck expansion, while introducing reforms, is not sustainable.

But Premier Li Keqiang said economic development was the government's central task but acknowledged "painful structural adjustments" were needed.

(SOUNDBITE) (Mandarin) CHINESE PREMIER LI KEQIANG SAYING:

"Currently, China's reform has entered a critical stage and a deep water zone. We must fully rely on the people, break mental shackles and vested interests with ultimate determination, and use the economic structural reform as a starting point to deepen comprehensive reform in al

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