BEIJING: China on Saturday cut its growth target for this year to a range of 6.5 - 7 percent, as the world's second-largest economy faces a litany of challenges from overcapacity to weak trade.

The country is a key driver of global growth but expansion fell last year to 6.9 percent, its slowest in a quarter of a century, and worries over its health have sent tremors through stock markets around the world.

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