BEIJING, March 5 — China will target economic growth of around 5 per cent this year as it works to transform its development model, curb industrial overcapacity, defuse property sector risks and cut wasteful spending by local governments, Premier Li Qiang said on Tuesday.

BEIJING, March 5 — China set a modest target for economic growth this year of around 5 per cent on Sunday as it kicked off the annual session of its National People's Congress (NPC), which is poised to implement the biggest government shake-up in a decade.