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Beijing - China announced an economic growth target for 2015 of around 7% on Thursday and said it would boost government spending, signalling that the lowest rate of expansion for a quarter of a century is the "new normal" for the world's No 2 economy.
Speaking at the opening of the country's annual parliamentary meeting, Premier Li Keqiang vowed to fight corruption and pollution, and stressed the need for more painful reforms to put the economy on a more sustainable footing after three decades of breakneck growth.
"The downward pressure on China's economy is intensifying," Li told around 3 000 delegates gathered at the Great Hall of the People to the west of Tiananmen Square in the heart of Beijing.
