The Chinese government has continued to dial down expectations
for economic growth, with Finance Minister Lou Jiwei forecasting that GDP will
rise 7% this year, below official targets of 7.5% and the 7.7% achieved in 2012.
Lou even said that growth of 6.5% wouldn't be a problem and that he doesn't
expect the economy to suffer a "hard landing." Lou also ruled out increasing the
budget deficit to stimulate the economy. "Despite the slowdown of China's
economic growth rate, the structural reform is paying off," he said.
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