China's premier says 7.5 pct GDP target not low

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　　China's GDP has reached 47 trillion yuan (7.46 trillion U.S. dollars). On this basis, the growth rate of 7.5 percent can not be counted as low, not to mention the economy would keep expanding at this pace, Wen told a press conference after the conclusion of the annual parliamentary session.

　　Indeed, the Chinese economy faces slowing trend due to impacts from the European debt crisis and contracting overseas demands, Wen noted².

　　Under such circumstances, to lower the growth mainly aims to facilitate economic restructuring, the premier said.

　　China lowered its GDP growth target to 7.5 percent for 2012 from around 8 percent in the past seven consecutive³ years, according to a government work report approved by the parliamentary session.

　　Previously⁴, China announced to target a 7 percent GDP growth from 2011 to 2015, the country's 12th Five-Year Plan period.

　　Wen reiterated⁵ that slower growth is made to fit with targets in the 12th Five-Year Plan, and to guide people in all sectors⁶ to focus their work on accelerating the transformation⁷ of the pattern of economic development and making growth less dependent on natural resource consumption and environmental pollution.

　　"We will make every effort to let ordinary people enjoy more benefits," he said.

　　Chinese economy is able to overcome the unbalanced, incoordinate and unsustainable development mode to achieve expansion of higher quality, which is helpful for world economic growth, he said.

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