China seeks to calm markets with pledge to keep growth on target.

Premier Li stresses 'job first' policy as foreign investment law passes

BEIJING -- Chinese Premier Li Keqiang on Friday insisted economic growth would be kept within the government's target range.

"It is true that the Chinese economy has encountered new downward pressure against the larger backdrop of slower global economic growth," Li told reporters in Beijing at the end of the 11-day National People's Congress.

Li said the new target of 6% to 6.5% was consistent with the government's determination to "not allow major economic indicators to slide out of their proper range."

"This way we have sent a message of stability to the market," he added.

"We will continue to cut taxes and fees, streamline our administration, foster new drivers for growth, broaden market access and level the playing field for all market players," Li said, adding that stronger measures are needed to cope with rising uncertainties this year.

Full story at Nikkei.

By AKIHIDE ANZAI and NIKKI SUN.