China's National People's Congress convenes today as it concludes its once-in-a-decade transition of power. In his final address to the Congress, outgoing Premier Wen Jiabao set an ambitious economic growth target of 7.5 percent.
The government has revised its latest GDP figures, saying the economy grew at a rate of 0.1 percent during the last three months of 2012. The increase was the weakest GDP performance in two years.
A Commerce Department report out today shows that GDP fell 0.1 percent last quarter, but consumer spending, business investment and employment continue to rise.