China sets an economic growth target of around 5% but acknowledges it will not be easy to achieve

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China aims to achieve 5% economic growth this year, Premier Li Qiang said Tuesday, acknowledging that it will be a challenging goal in difficult times. In his address to the annual session of the National People’s Congress, Li outlined plans to boost spending on developing advanced technology, fortifying China’s military and supporting the economy, among many other longstanding goals. But there was no big package of stimulus to help boost markets and reassure worried investors. Li, presenting an annual report on the past year and future plans, said the government would continue with a “pro-active fiscal policy and prudent monetary...