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China growth lowest for 11 years

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China growth lowest for 11 years

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China has set its growth target for 2015 at around 7 percent, the lowest in 11 years.

The expected growth is in line with market expectations and is 0.5 down on last year’s 7.5 percent target.

China now plans to guide the economy toward a slower more sustainable growth as the country looks to switch from quantity to quality.

Beijing also announced it is to raise its military spending by 10.1 percent, building on its two-decade run of annual double-digit rises.