<br/><br/>Chinese growth target for this year has been cut to around 6.5 per cent, down from 6.5 to 7 percent last year. <br/><br/>The announcement was made by Premier Li Keqiang while he was addressing the country's parliament, the National People's Congress (NPC), which has gathered in Beijing for its annual session. <br/><br/>More than 3,000 legislators are meeting in the Great Hall of the People. <br/><br/>The NPC and its advisory body hold ceremonial meetings every year. The advisory body, the Chinese People's Political Consultative Conference, began its meeting on Friday. <br/><br/>State news agency Xinhua said legislators and advisers would, among other issues, discuss globalisation "at a time when certain Western powers are retreating into protectionism and isolation". <br/><br/>Xinhua also reported that national defence and relations with Taiwan, Hong Kong and Macau would be discussed. <br/><br/>Prime Minister Li is also expected to provide more detail today about the country's defence budget, which is planned to rise by 7 per cent.<br/><br/>This year's advosory body meeting comes ahead of a major Chinese Communist Party congress, due to be held later this year.<br/><br/>That congress will confirm party chief and president Xi Jinping's second term in office, as well as announce changes in the party's top leadership.<br/>
News On AIR | March 5, 2017 11:51 AM
Chinese growth target cut to 6.5% down from 6.5 to 7%