China's top economic planner, the National Development and Reform Commission (NDRC), says the government would target 17.5 percent growth in its fixed-asset investment this year.
The commission submitted its 2014 draft plan for China's economic and social development on Wednesday. In the plan, the NDRC trimmed the 2014 growth target to a decade-low. Last year's growth rate reached 19.6 percent.
In terms of retail sales, the NDRC aims for 14.5 percent growth this year, the same as in 2013. Last year's actual growth climbed 13.1 percent.
The NDRC's Minister Xu Shaoshi said at a media briefing Wednesday that he has confidence in China's ability to achieve 7.5 percent growth in 2014.
"Where is the bottom line and where is the top line? To my understanding, the top line is that our inflation rate cannot go over 3.5 percent. And the bottom line is that our economy cannot grow slower than 7.5 percent and new jobs no less than 10 million," NDRC Minister Xu Shaoshi said.
(CNTV.cn March 6, 2014)