Premier Wen on the adjustment of GDP growth

Premier Wen Jiabao meets both Chinese and foreign reporters after the closing ceremony of the annual session of the National People's Congress in the Great Hall of the People in Beijing on March 14, 2012.

Q: China's annual economic growth has been set at 7.5 percent this year, lower than in pervious years. Is the downward adjustment temporary or permanent? Does it suggest the end of the high-speed growth period for the Chinese economy?

How will the adjustment affect the global economy as the world hopes the high-speed growth of China can soothe the global slowdown?

A: The aim of the adjustment is to advance toward technology progress and labor quality. We target high-quality growth, as well as adjustment in economic structure and development model. The economy will shift to an energy-conserving and environment-protecting model to deliver more benefit to the people.

We set the economic growth target for the 12th Five-Year Plan at 7 percent. The target for 2012 is set in line with the target of the 12th Five-Year Plan.

China is facing economic downward pressure with external contraction and European debt crisis. We set the annual growth for structural adjustment in economy, which is fundamentally beneficial for the global economy.