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The number keeps reducing... from 8%, 7.5%, 7% and now 6.5%.... The restructuring cost is high but necessary IMO...

China ‘can endure’ slower growth of 6.5%

WASHINGTON — China’s Finance Minister Lou Jiwei has signalled that the world’s second-largest economy may expand less than targeted this year and that growth as low as 6.5 per cent may be tolerable.

Mr Lou said he is confident of achieving a 7 per cent rate this year — below the goal of 7.5 per cent that the government set in March .

Speaking at the US-China Strategic and Economic Dialogue in Washington on Thursday, Mr Lou’s comments suggest that China is prepared to allow for a further slowdown from a rate that is already at risk of falling to a 23-year low this year, as Premier Li Keqiang focuses on policy changes to create more sustainable expansion.

Mr Li said this week that the government should keep restructuring the economy as long as growth, employment and inflation stay within certain limits

http://www.todayonline.com/business/chin...-growth-65

Xinhua news have edited the story, unilaterally...

http://news.xinhuanet.com/english/china/...533537.htm
In the first quarter the growth rate was 7.7 percent, and the rate in the first half of this year will be slightly lower than 7.7 percent, he added. There is no doubt that China can achieve this year's growth target of 7.5 percent.

Now back to 7.5%...

China’s economy not in crisis: Finance Minister

SHANGHAI — China’s Finance Minister denied that the world’s second-largest economy was entering a crisis period, adding that he believed growth could even accelerate, as quoted by the official Xinhua news agency in an interview.

The report quoted Mr Lou Jiwei, speaking on the sidelines of the G-20 conference on Saturday, as saying he expected China’s economic growth to end the year at 7.5 per cent, the official target rate.

A Xinhua report on July 12 that quoted him saying he expected growth to come in at 7 per cent caused brief market confusion, but the news agency later changed the report to quote the figure at 7.5 per cent.

http://www.todayonline.com/chinaindia/ch...e-minister