Chinese Premier: Country May Need Growth Rate of At Least 7.2 Percent For Enough Job Creation

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China may need a growth rate of 7.2 percent in order to create enough jobs in the economy, Premier Li Keqiang said in a speech to the All-China Federation of Trade Unions on October 21. Li's remarks, however, were published only on late Monday.

China needs 7.2 percent growth a year to generate 10 million new jobs annually and to maintain the urban registered jobless rate at around 4 percent, Li was quoted as saying. "The reason why we want a steady growth is to preserve jobs."