Wen notes obstacles as China targets 7.5% growth in 2013

China is shooting for 7.5% growth this year, identical to the 2012 target, but adjustments need to be made, departing Premier Wen Jiabao said at the National People's Congress. Warning of "social problems" that have "increased markedly," Wen noted that China's development to date has been "unbalanced, uncoordinated and unsustainable." Zhang Zhiwei, chief China economist at Nomura Holdings in Hong Kong, said the problems also include "the risk of a property bubble, significantly increased local government debt, income equality and worsening pollution."

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