China has set its 2018 economic growth target at "around 6.5%".


The figure, announced at the opening session of the annual National People’s Congress, is in line with the country’s existing expansion goals.


But it is below the 6.9% reported for 2017 - the first time in seven years the pace of growth picked up.

但这低于2017年报告的6.9% - 七年来首次出现增长的步伐。

The report also said China would clamp down on the kind of financially risky operations which have threatened to cause the collapse of major firms.


It follows last months steps by Beijing to take control of insurance and financial giant Anbang.


Several other high-profile operations are also having their finances scrutinised by Beijing.


China is now the world’s second largest economy, but a reliance on borrowing has led to pressing political concerns about debt risk.


As expected, the report delivered by Premier Li Keqiang said reining in this risk would be a key policy for the coming year, promising to "see that internal risk controls are tightened in financial institutions" and a "serious crackdown on activities that violate the law like illegal fundraising and financial fraud".


The report added that the unchanged growth target was "fitting given the fact that China’s economy is transitioning from a phase of rapid growth to a stage of high-quality development" and would allow it to "achieve relatively full employment".


Other goals mentioned in the report included:


-Achieving inflation of 3% -Cutting overproduction, including reducing steel capacity by 30 million tonnes and coal by 150 million in 2018 -Reining in pollution -Reducing poverty


The report said that China’s economics and financial risks were "on the whole manageable".