China sees 7% growth floor with reforms
That's lowest deemed necessary to stop unemployment from rising
Beijing
CHINESE authorities will cut interest rates, increase liquidity and tolerate some currency weakness to ensure the economy grows around 7 per cent this year, as they try to head off deflation and keep employment strong enough to push on with reforms, policy insiders say.
Expansion of around 7 per cent - expected to be unveiled as the official 2015 target when Parliament meets next month - is seen as the minimum needed to stop unemployment from rising: a key political goal as the leadership gets people accustomed to a "new normal" of slower but more sustainable growth.
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