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China about to set 6.5% growth target in 2018: report

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China about to set 6.5% growth target in 2018: report

China is likely to peg its 2018 growth target at about 6.5%, the same rate as in 2017 and paving the way for quality growth as Beijing intensifies its deleveraging campaign, the South China Morning Post reported, citing a state think tank adviser.

China is expected to rely more on technology innovation and other "innate drivers" for economic growth, Lou Feng, a researcher at the Chinese Academy of Social Sciences, told newspaper 21st Century Business Herald.

The government lowered its 2017 growth target to about 6.5%, but an acceleration in infrastructure investment and real estate development mean the country is on track to attain 6.8%, Lou was quoted as saying.

Top leaders will endorse the proposed growth target of 6.5% at the Central Economic Work Conference to be held later in the month, and then it will be announced at the annual congress early next year, the South China Morning Post said.