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Beijing, March 5 (CGTN): : The opening meeting of the fifth session of the 13th National People’s Congress (NPC) began at the Great Hall of the People in Beijing on Saturday, attended by Chinese President Xi Jinping and other state leaders. Premier Li Keqiang, on behalf of the State Council, delivered a government work report to the national legislature for deliberation.
Here are some highlights of the work report
China has set GDP growth target at around 5.5 percent for 2022, and its inflation target, or increase in consumer price index (CPI), at around 3 percent.
China aims to create over 11 million new urban jobs in 2022 and targets a surveyed urban unemployment rate of no more than 5.5 percent.
The Chinese economy faces the triple pressures of shrinking demand, disrupted supply and weakening expectations. However, the economic fundamentals remain unchanged and will maintain long-term growth.
China accomplished the main targets and tasks for last year and got the 14th Five-Year Plan (2021-2025) off to a good start.
Higher-standard opening-up
China will pursue higher-standard opening-up and promote stable growth of foreign trade and investment.
The country will make full use of international and domestic markets and resources, continue to expand international economic cooperation and trade, and push for in-depth reform and high-quality development.
“The vast, open Chinese market is sure to provide even greater business opportunities for foreign enterprises in China,” Li said.
High-quality development through innovation-driven strategies
China will continue its innovation-driven development strategy and strengthen the foundation for the real economy.
China will promote scientific and technological innovation to upgrade its industries, eliminate supply bottlenecks, and realize high-quality development through innovation.
China will implement a 10-year action plan on basic research to ensure stable support for scientific and technological innovation over the long term.
China targets high-quality development through innovation-driven strategies
Deepening reform and strengthening market vitality
China pledges to deepen reform in order to strengthen market vitality and internal momentum for development.
The country will take measures to streamline administrative power, take stronger action against monopolies and advance reforms of the financial system, Li said.
“We will further the implementation of policies to ensure fair competition and take stronger action against monopolies and unfair competition to ensure a well-ordered and fair market environment,” he said.
China will advance reforms of the fiscal and taxation systems including strengthening budgetary constraints and transparency, as well as cracking down on tax evasion and fraud in accordance with the law. Proactive fiscal policy should be more effectual, more targeted and more sustainable, he said.
Green and low-carbon development
China will continue to improve its ecological environment by promoting green and low-carbon development.
China will take well-ordered steps to achieve peak carbon emissions and carbon neutrality, and the action plan for peaking carbon emissions will be put into effect.
The development and application of green and low-carbon technologies will be promoted, and projects with high energy consumption, high emissions and low quality will be curbed.
Rural revitalization
China will consolidate and build on its achievements in poverty elimination by promoting rural revitalization.
“We will support areas that have been lifted out of poverty in developing distinctive local businesses and bolster labor collaboration and vocational skills training to help people who are no longer in poverty steadily increase their income,” Li said.
The country will step up efforts to ensure stable production and sufficient supply of grain and other important agricultural products, and ensure the area of farmland remains above the redline of 1.8 billion mu (about 120 million hectares).
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Source: NewsAsia
