Xi says China should not focus on growth rate alone

March 28, 2015 09:17 am | Updated 09:30 am IST - BOAO

Chinese President Xi Jinping.

Chinese President Xi Jinping.

Chinese President Xi Jinping said on Saturday that the country should not focus on its economic growth rate only, reiterating China's push for a more sustainable, higher-quality expansion.

Chinese leaders have announced an economic growth target of around 7 per cent for this year, below the 7.5 per cent goal in 2014 and the slowest rate in a quarter-century.

Mr. Xi, who was speaking at a forum in Boao on the southern Chinese island of Hainan, said 7 per cent growth was still impressive and would be a big driver of momentum.

He said the Chinese economy was resilient and had much potential, allowing for a host of policy tools. Analysts anticipate further interest rate cuts in China this year.

The theme of the Boao forum is: “Asia's New Future: Towards a Community of Common Destiny”.

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