China is planning to cut its growth target to around 7% in 2015  its lowest goal since 2004, as policymakers try to manage slowing growth, job creation and pursue reforms to drive the economy, Reuters reports. Data last week showed that China's economy only expanded 7.4% in 2014, its slowest pace in 24 years. Sources say the growth target, which is set to be announced in March, was endorsed by top party leaders and policymakers at a closed-door Central Economic Conference in December.