Chinese Finance Minister Lou Jiwei said that the government’s 7.5% economic growth target isn’t a “floor,” suggesting that Beijing may be comfortable with slower growth.

Early this year, China set its annual target at “around 7.5%.” But recent statements by Premier Li Keqiang stressing the importance of growth have convinced some economists and officials that Beijing wouldn’t be satisfied with anything below the target. China has taken a number of steps, including speeding up spending on transportation, information technology and other infrastructure projects, to make sure the economy doesn’t slow further.

Mr. Lou said at a news conference at the annual Strategic & Economic Dialogue with the U.S. on Wednesday that 7.5% “is not the floor.”

“Our target is 7.5%,” he said. “That is a kind of expectation or anticipation.”

In the first quarter of 2014, China’s economy expanded 7.4% compared with a year ago. China is expected to report somewhat stronger results next week for the second quarter.

Mr. Lou said China’s economic performance is “stable.” But he said that the economy hadn’t recovered sufficiently to convince Beijing to stop intervening in the foreign-exchange market to guide the value of the yuan.

He said the U.S. was using the S&ED talks to press China to let its currency be set by market forces. But given the country’s economic slowing, “it’s very difficult for us to refrain from intervention” in forex markets, he said.

Since the beginning of the year, China has intervened regularly in currency markets to weaken the yuan, which is down about 2.4% this year against the U.S. dollar. A weaker yuan helps China’s big export sector.

U.S. Treasury Secretary Jacob Lew said earlier in the day that a more flexible exchange rate would benefit China by boosting household income and by helping China remake its economy so it depends more on domestic demand and less on exports.