Growth target of around 5.5 pct to generate output equivalent to medium economy: Chinese premier

BEIJING -- A 5.5-percent increase on the basis of over 110-trillion-yuan (about $17.4 trillion) GDP in China today would generate the same amount of output equivalent to the size of a medium economy, Chinese Premier Li Keqiang said Friday.

From a worldwide perspective, it is a hard problem for such a big economy to maintain medium-high growth, Li told a press conference after the closing of the fifth session of the 13th National People's Congress.

China accomplished major goals and tasks on economic and social development last year, laying a solid foundation for this year, according to the premier.

The economy faces new downward pressure and challenges this year. To achieve the growth target, the country needs relevant supporting fiscal policies, he said.