China’s economic growth this year is likely to come in at 7.6 percent, slightly down from the 7.7 percent expansion recorded in 2012, Xinhua news agency cited a State Council report as saying Wednesday. Economic growth has been higher than expected since 2011 despite a declining trend, the cabinet was quoted as saying in a mid-term evaluation report on the implementation of the nation’s 12th Five-Year Plan. The five-year plan set an annual growth target for gross domestic product (GDP) at 7 percent between 2011 and 2015. GDP growth was 9.3 percent in 2011, 7.7 percent in 2012 and 7.6 percent in the first half of this year. “We can not deny a downward pressure on economic growth,” Xu Shaoshi, minister in charge of the National Development and Reform Commission, told lawmakers, the report said. He cited uncertainties in global economic recovery and rising labor and environmental costs at home.
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