China finance minister expects GDP growth of 7% in 2013, no hard landing: Report

Chinese Minister of Finance Lou Jiwei smiles before the G20 finance ministers and central bank governors family photo during 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington, on April 19, 2013. Mr Lou said he expect
Chinese Minister of Finance Lou Jiwei smiles before the G20 finance ministers and central bank governors family photo during 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington, on April 19, 2013. Mr Lou said he expects the country's economic growth for 2013 to come in at 7 per cent, the official Xinhua news agency reported on Friday. -- FILE PHOTO: REUTERS

SHANGHAI (REUTERS) - China's finance minister, Lou Jiwei, said he expects the country's economic growth for 2013 to come in at 7 per cent, the official Xinhua news agency reported on Friday.

"Despite the slowdown of China's economic growth rate, the structural reform is paying off," Xinhua quoted Mr Lou as saying on the sidelines of the US-China Strategic and Economic Dialogue in Washington.

Mr Lou added the 7-per cent goal should not be considered as the bottom line, Xinhua said.

Last month, Vice President Li Yuanchao said China will be able to maintain a 7 per cent economic growth rate in the future.