Xinhua News Agency made a correction on a news dispatch involving China's finance minister that quoted him saying 7% growth this year should not be the bottom line. The rectification appeared to intend to curb market concerns over a severe slowdown in economic growth.

Xinhua made the corrected and clarificatory report where Minister Lou Jiwei, who was speaking in Washington, said: ""There is no doubt that China can achieve this year's growth target of 7.5%".

The correction came out from Washington on Thursday and was issued in English. The amended statement only reiterated the official target set last March when the new government assumed office.  

The original report issued by Xinhua quoted Minister Lou Jiwei saying: "There is no doubt that China can achieve the growth target, though the seven-percent goal should not be considered as the bottom line".

The said statement was interpreted by analysts as an indication that the world's second-largest economy may be willing to accept an economic growth that is considerably below 7% for the second half of this year, a Reuters report said.