BEIJING • China will keep its economic growth within a reasonable range in the second half of the year, and will ensure its full-year growth target is achieved, the country's state planner said yesterday.

While the trade friction with the US will have a negative impact on the Chinese economy, China will ensure that its annual growth target will be met, said Mr Cong Liang, a spokesman for the National Development and Reform Commission.

China aims to expand its economy by around 6.5 per cent this year. Gross domestic product grew 6.7 per cent in the second quarter from a year earlier, slowing from the 6.8 per cent pace in the first three months.

Data is increasingly pointing to a cooling economy as an ongoing campaign by Beijing to curb risks in the financial system raises borrowing costs and squeezes small businesses.

To help firms affected by tighter financing, China has taken steps to boost liquidity and has urged banks to extend more loans to companies.

Meanwhile, China's commerce ministry said a US decision to subsidise renewable energy firms and impose tariffs on imported products has seriously distorted the global market and harmed China's interests.

China has lodged a complaint with the World Trade Organisation (WTO) to help determine the legality of the US policies, saying they not only harm China's rights but also undermine the WTO's authority, the ministry said on its website on Tuesday.

Washington announced in January that it was imposing what it called safeguard tariffs over four years - with a 30 per cent tariff in the first year reduced gradually to 15 per cent in year four.

The move is not expected to have an immediate impact on China's major solar manufacturers, including GCL, Jinko Solar and Canadian Solar, as their exposure to US markets was reduced after earlier trade disputes.

REUTERS