Pursuit of growth 'won't spark financial crisis'

The nation can achieve its GDP growth target of "around 7 percent" this year without any risk of a systemic financial crisis, said members of the country's top political advisory body on Friday.

With economic expansion having moderated to a "new normal" pace, potential GDP growth will still be about 8 percent this year and in the next 20 years, said Justin Yifu Lin, former chief economist and senior vice-president of the World Bank.

His comments came during a news conference at the Third Session of the 12th National Committee of the Chinese People's Political Consultative Conference.