China will meet economic growth goal this year: vice-premier Zhang

Beijing

CHINA's economy faces downward pressure but will be able to meet its economic growth target for the year, China's vice-premier Zhang Gaoli said at a forum in Beijing on Wednesday. Growth in M2 money supply slowed in April versus March, Mr Zhang said at a meeting on tax administration hosted by the OECD. M2 money supply grew 13.4 per cent in March.

China has set a target for 6.5 per cent to 7 per cent GDP growth in 2016, after growth fell to a 25-year low of 6.9 per cent in 2015.