Chinese Premier Li Keqiang told German business leaders his country is confronted by huge challenges as it seeks 7 percent annual growth this decade, down from more than 10 percent in the previous 10 years.
China needs growth of about 7 percent to double per capita gross domestic product by 2020 from the level in 2010, Li said yesterday in Berlin after meeting with Chancellor Angela Merkel during his first trip abroad as premier. Expansion is cooling from the pace that propelled the nation to become the worlds second-biggest economy.