Quote from The Wall Street Journal:

"China set a growth target of around 7.5% for this year as it kicked off a meeting to finalize its leadership transition, reflecting how Beijing is turning away from breakneck growth based on exports in favor of a broader economy driven by spending at home."

"China's ambitions for more moderate growth come after decades of double-digit increases and are a centerpiece of new leaders' plans to be detailed during the annual National People's Congress, which began Tuesday."