China aims for 7.5 pct economic growth in 2014-Premier Li

BEIJING, March 5 Tue Mar 4, 2014 7:11pm EST

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BEIJING, March 5 (Reuters) - China aims to grow its economy by about 7.5 percent in 2014 and to keep consumer inflation around 3.5 percent for the year, Premier Li Keqiang said on Wednesday as the country began its annual meeting of parliament, the National People's Congress.

The annual growth target was the same as in 2013 - as expected by most analysts.

The government will keep annual growth in broad M2 money supply at about 13 percent, Li said in his first work report since taking office a year ago.

Li also said China would have a 2014 fiscal deficit of 2.1 percent of gross domestic product.

The world's second-largest economy grew 7.7 percent in 2013, steady from the previous year and fractionally above market expectations of 7.6 percent, which would have been the slowest since 1999.

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