Li refuted the report by saying the urbanization draft is still under discussion and there’s no clear timetable for implementation.

By then, in 2030, India will have overtaken China in terms of population, and almost certainly in GDP growth rates.

The flash reading of HSBC China PMI slipped to 49.6, the lowest since September

The total GDP figures of China’s 31 provinces for 2012 added up to RMB57.6 trillion, 10 percent higher than the national figure of RMB51.9 trillion

Li promised Tuesday to open China’s vast domestic market wider to India and forge a dynamic trade balance to bring closer economic ties

China's trade surplus is about one tenth of the officially reported $61 billion so far this year, after accounting for fake transactions used to channel the so-called "hot money" into mainland

India is inheriting the Chinese worker dividend, and China needs to put India to work just to satisfy its own domestic consumer needs.

Excluding Hong Kong, China registered a growth of 8.5 percent and Export growth to Hong Kong hit 69.2 percent in January-April

China’s industrial output, the key monthly measure of growth, rose 9.3% in April from a year earlier, up from 8.9% in March，but missed market expectations.

The government will cut unnecessary checks and approvals to boost private investment, Li said, as he repeatedly called to streamline government's role in market-friendly reforms.

A quarter of the respondents to May's survey name a hard landing in China and a commodity collapse as their number one "tail risk", an increase from 18 percent in April

The lower-than-expected growth in revenue is mainly due to the tepid GDP growth, the structural tax reduction policy as well as a slowing growth in exports, said the ministry

The reforms could be costly but positive for China's shift towards services and consumption over investment and exports, said Rothman.

The slower growth in January-April, below consensus forecasts, versus 20.9% in January-March, indicates that China’s fiscal spending could have slowed in the month, said ANZ

Details of April trade report and anecdotal evidence have prompted many to believe that China's trade data was significantly inflated by companies fiddling their invoices to bring funds onshore to chase yield.