FT.com / Asia-Pacific - China targets 8% growth despite crisis

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China will meet its goal of 8 per cent economic growth this year, Premier Wen Jiabao said on Thursday, although he did not outline any new spending proposals to revive the economy.

In his annual “work report” to the National People’s Congress in Beijing, Mr Wen said that the global financial crisis was deepening but that the goal of 8 per cent growth, which has been an unofficial target for months, was still realistic.

“As long as we adopt the right policies and appropriate measures and implement them effectively, we will be able to achieve this target,” Mr Wen said.

Global financial markets rose on Wednesday after Chinese officials indicated Mr Wen would introduce new stimulus measures on Thursday. However, Mr Wen did not announce additional measures beyond the Rmb4000bn investment plan unveiled in November.

FT.com / Asia-Pacific - China targets 8% growth despite crisis

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