China trims GDP target, citing severe challenges

The economy is already growing at its slowest rate in more than a quarter of a century and the latest target unveiled at the opening of China's rubber-stamp parliament is lower than a 6.5-7.0 percent range he set last year."In the past year, China's development has faced grave challenges posed by a great many problems and interwoven risks and dangers both at home and abroad," Li said in his annual state-of-the-nation speech to the National People's Congress (NPC).China aims for "GDP growth of ar