China is expected to lower its economic growth target for the first time in three years, likely by half a percentage point to "around 7%," Communist Party sources say. Beijing seems to be trying to steer the world's second-largest economy onto a sustainable, albeit slower, course rather than risk a hard landing. The Central Economic Work Conference, which sets the direction for China's economic policy, will decide on a 2015 growth target next month, leaving the National People's Congress to announce the much-anticipated figure in March. China aimed for 8% growth from 2005 to 2011, then lowered its sights to 7.5%. It ... (full story)