Chinese premier Li Keqiang has said his government will not “defend to the death” its goal of 7 per cent economic growth this year — a day after Beijing cut interest rates for the sixth time in 12 months.

Mr Li’s remarks come before Monday’s opening of a Communist party gathering that will shape the upcoming five-year plan, a blueprint for the economy. Personnel appointments and policies decided during the plenum will reflect the competition among factions for influence over future generations of leaders.

China’s official statistics showed growth sliding to 6.9 per cent in the third quarter, the lowest since 2009 during the depths of the global financial crisis. Other indicators such as steel consumption or electricity use suggest even greater weakness in the heavy industry and manufacturing that for years served as the engine of China’s economy, despite efforts to loosen credit and stimulate investment.