BEIJING -- With economic momentum continuing to slow from a crackdown on financial leverage and the trade conflict with the U.S., China has set its growth target for this year at a range of 6% to 6.5%.
Last year's official gross domestic product expansion of 6.6% was already the slowest China had posted in 28 years but many economists believe the actual rate was significantly lower. To boost confidence, Premier Li Keqiang on Tuesday unveiled a package of tax cuts to the National People's Congress.
