Li: GDP growth target intended to guide expectations

China's decision to set a GDP growth target of above 6 percent this year is intended to guide expectations to and restore the foundation of the economic recovery and maintain the sustainability of macro policies, Premier Li Keqiang said on Thursday.

Li told a news conference after the closing of the annual session of the National People's Congress that economic growth that is too fast would not be steady, and the country requires steady growth to sustain its development for the long run.

"By setting our GDP growth at above 6 percent, we have left the possibilities open, which means in actual delivery, there may be even faster growth," he said.

"We need to further consolidate the foundation of economic recovery, promote high-quality development, and make our development truly sustainable," he said.

He added that the target for this year should be fully aligned with the possibilities and conditions for what the nation can accomplish next year and the year after next.

"We must avert wild swings in economic performance," he said.