China on track to hit 7% GDP growth target this year: Premier Li

Chinese Premier Li Keqiang speaking at a summit in Suzhou.
Chinese Premier Li Keqiang speaking at a summit in Suzhou. PHOTO: REUTERS

SUZHOU (Reuters) - Chinese Premier Li Keqiang said on Tuesday (Nov 24) China was on track to reach its economic growth target of about 7 per cent this year, and the economy was going through adjustments to maintain reasonable medium- to long-term growth.

Li made the comments during a summit in the city of Suzhou with leaders of 16 Central and Eastern European countries.

China was studying the possibility of establishing a multilateral financial institution with Central and Eastern European countries, as well as a joint fund denominated in Chinese yuan, Li said in a speech.