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China set 2019 GDP growth target at 6-6.5 percent

China lowered its target for economic growth this year and announced a major tax cut to boost the economy hit by slowing domestic demand while grappling with a debt legacy and the trade standoff with the US.

The gross domestic product growth target released Tuesday morning in Premier Li Keqiang’s annual government work report to the National People’s Congress was set at a range of 6 to 6.5 per cent for 2019. The shift to a band from the previous practice of using a point figure gives policy makers room for maneuver and compares with the goal . . .

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