Around 10 million jobs are expected to be created as China focuses on market-opening reforms that were solidified during the annual parliament session that ended Thursday.

Premier Li Keqiang said while China will not push for a growth target higher than last year's 7.5 per cent, the central government will make sure that there will be enough jobs for people.

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"We are not preoccupied with GDP growth. The growth that we want is one that brings real benefits to the people," Li said at a news conference after the annual session.

Around 13 million jobs were created last year when the economy exceeded its target and actually grew 7.7 percent.

For Beijing to succeed in creating the target 10 million jobs for 2014, the economy must grow 7.2 percent annually, Li explained.

Economic indicators released after Li's speech suggest that the growth flexibility he touted may be in for an early challenge. The January-February data on investments, retail sales and manufacturing all pointed to an early slowdown.

Economist Hao Zhou believes policy easing might be imminent.

When asked how far government would allow the economy to slip before stepping in with corrective measures Premiere Li said Beijing will tolerate lower growth as long as employment does not suffer.

Joseph Cheng, a political analyst at the City University of Hong Kong, thinks that Li was torn between the leadership's lack of interest in growth and reassuring businesses that the economy would not be allowed to slow too much.

Li had emphasized that any further economic gains will have to come from longer term reforms and not solely from consumer spending.

"Some government departments will find fewer powers in their own hands and in boosting market competition and easing market access, some existing companies will feel greater pressure," Li said. "We will carry out reform without hesitation."