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Reuters reports the recent comments delivered by  China’s State Council Researcher Huang Shouhong that explained the softer GDP growth target set by China at the annual parliamentary event earlier today.

Key Headlines:

Lower GDP growth target is to reflect uncertainties.

Lower GDP target can help China pursue quality growth.

Tax cuts are largely aimed at helping manufacturers

China needs GDP growth of around 6.2% this year and next to double GDP by 2020.

The growth rate that is slightly higher or lower will still be acceptable.