China lowers annual growth forecast as slowdown accelerates

Beijing

CHINA lowered its growth target for 2019 and announced major tax cuts as it struggles to mitigate risks from its ongoing trade war with the United States.

China's Premier Li Keqiang told a floor of 3,000 delegates gathered in Beijing for the opening of the National People's Congress that the government is targeting growth of "6 to 6.5 per cent for this year". That compares with a target of "about 6.5 per cent" announced for 2018.