China eases fiscal stance to meet slower 2016 growth target

China unveiled a record fiscal deficit and pledged to accelerate the restructuring of its bloated state-owned industries while still setting a weaker growth target for this year. Premier Li Keqiang announced a 6.

5 per cent to 7 per cent expansion goal Saturday, down from an objective of about 7 per cent last year and the first range the government has offered since 1995. The government also abandoned its trade target, underscoring the degree of uncertainty about prospects for global growth. The details were given in Li's work report.....

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