Saturday, May 30, 2015Saturday, May 30, 2015

China to aim for 7-8% economic growth: Central bank chief

Published on Feb 23, 2014 3:24 PM

BEIJING (REUTERS) - China is aiming for economic growth of between 7 and 8 percent, a level that is good for both the country and the world, Central Bank Governor Zhou Xiaochuan told a G20 meeting in Sydney this weekend.

Mr Zhou, in remarks published online on Sunday by the central bank, did not give a time frame for that level, but said the country was working on financial reforms and would keep growth stable. The government has released no forecast for this year.

Growth in 2013 stood at 7.7 percent.

He said China was vigilant about financial risks and was keeping a close eye on its "shadow banks", a sector that he said was growing quickly though its overall size is not big.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!