China plans to lower its GDP growth rate in 2012 to 7.5 percent amid the gloomy world economy and complicated domestic situation, according to a government work report.
This is the first time for the Chinese government to lower its economic growth target after keeping it around 8 percent for seven consecutive years.
The CPI will be capped at around 4 percent for the whole year, and the volume of total exports and imports is expected to increase by around 10 percent, according to the report delivered by Premier Wen Jiabao at the annual session of the National People's Congress (NPC) on Monday morning./.