China sets growth target range for 2016

The low end of the new growth goal is a few notches below what China posted last year. Gross domestic product expanded by 6.9% in 2015, its slowest pace in 25 years and a hair slower than the government's 7% target.

This is the first time since 1995 that Beijing has announced a target range for economic growth. It shows the government moving away from its previous approach of setting specific numbers to hit.

Experts have questioned the value of the headline growth goal, saying it encourages local and provincial officials to distort their numbers to please Beijing.