February 27, 2011 5:27 PM

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China lowers its annual economic growth target

China's Prime Minister Wen Jiabao says China is lowering its annual economic growth target from 8 per cent to 7 per cent and is determined to contain soaring prices. He was speaking in a question and answer session with internet users in what has become an annual online chat. Mr Wen said China needed to ensure that growth was sustainable. Inflation is officially running at almost 5 per cent but food prices have surged by 10 per cent creating public discontent.

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