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Beijing pares economic growth target to around 7%, calls it new normal

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Mr Li laid out a reform plan for SOEs, saying that Beijing would "take systematic steps to implement the reform of introducing mixed ownership to SOEs".

Beijing

AS expected, China lowered its 2015 GDP growth target to "approximately 7 per cent", as the world's second largest economy rebalances and faces slower global growth.

In his opening address of more than 11/2 hours to the National People's Congress that convenes annually,

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