The Chinese economy has met its target of an annual growth rate of approximately 7 percent in 2015, said China’s Secretary General of the National Development and Reform Commission, Li Pumin.

Mr Li added, quoted by Chinese state-run news agency Xinhua, that economic fundamentals would remain healthy in 2016.

The Secretary General of China’s top economic planning agency also stressed the importance of the Government’s efforts to cut overcapacity.

According to Mr Li’s estimates, about 13 million new jobs for urban residents were created in 2015.

China’s economy posted a 7 percent annual growth rate both in the first and second quarters of last year. Economic growth slowed in the third quarter to 6.9 percent.