China confident of meeting 2015 GDP target of around 7 per cent: Premier

Workers on a construction site in Tianjin, northern China, on May 13, 2015. Chinese Premier Li Keqiang said he was confident that China has the ability to meet its 2015 economic growth target of around 7 per cent, the official news agency Xinhua repo
Workers on a construction site in Tianjin, northern China, on May 13, 2015. Chinese Premier Li Keqiang said he was confident that China has the ability to meet its 2015 economic growth target of around 7 per cent, the official news agency Xinhua reported on Thursday. -- PHOTO: AFP

SHANGHAI (REUTERS) - Chinese Premier Li Keqiang said he was confident that China has the ability to meet its 2015 economic growth target of around 7 per cent, the official news agency Xinhua reported on Thursday.

China is set for its slowest growth in a quarter of a century this year and has rolled out a series of measures since last year to shore up the flagging economy and reduce the risk of falling short of its official growth targets.

"We have the ability and confidence to meet this target and to maintain medium-to-high speed economic growth," Xinhua quoted Li as saying.

He was speaking in Brazil where he has been announcing trade, finance and investment deals worth tens of billions of dollars in energy, mining, aviation.

China's money supply grew at its slowest pace on record in April and investment growth sank to its lowest in nearly 15 years, suggesting the world's second-largest economy was still losing momentum despite a burst of interest rate cuts and other policy easing.

More stimulus measures are expected in coming months.