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Chinese President Xi Jinping and Premier Li Keqiang arrive for the opening session of the National People's Congress at the Great Hall of the People in Beijing on March 5. (Photo by Kosaku Mimura)

China vows to confront structural issues with tighter control

Corporate debt to be reined in to contain financial risk

CK TAN, Nikkei staff writer | China

BEIJING -- The Chinese government on Monday unveiled its annual economy targets, suggesting a slowdown trend as it vowed to deepen reforms including in the financial sector to keep risks in check. Premier Li Keqiang's legislative address on Monday showed the leaderships' intention to cement its top-down approach to tackling the nation's urgent challenges.

Li told the National People's Congress in Beijing that while the country is in a "pivotal" period of transforming its growth model, there are still "many hills to climb." He said the government is committed to resume fighting "three critical battles" against poverty, pollution and financial-sector risk.

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