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China sets 6.5% to 7% growth target, first range since 1990s

Beijing also plans to take steps to curb excess industrial capacity and deal with unprofitable "zombie companies"

The new goal comes at a precarious time as policymakers battle the slowest growth in 25 years, the yuan dropping to a five-year low and the second bear market in stocks in less than a year.

Hong Kong

CHINA set a range for its economic growth target for the first time in two decades, saying the world's second-largest economy would expand 6.5 per cent to 7 per cent this year, slower than last year's goal of about 7 per cent.

While downward pressure on the economy is "