Beijing: China is targeting a growth rate of around 7.5% in 2014, besides pledging war on pollution, fighting corruption “without mercy”, and “crack down” on terrorism.
Premier Li Keqiang said on Wednesday China’s three decades of rapid industrialisation have transformed its economy and seen incomes soar, but have also brought severe environmental consequences including smog that regularly blankets its cities. Li said pollution was a “red-light warning” against inefficiency, as he sought to address public concerns on issues ranging from poisoned waterways to food safety.
The government also unveiled a 12.2% increase in defence spending to 808.23 billion yuan ($132 billion), another double-digit budget percentage rise for the world’s largest military.
The world’s second-largest economy grew 7.7% in 2013, the same as in 2012 – which was the slowest rate of growth since 1999.