China: Li Keqiang delivers the Government Work Report

• Prime Minister Li Keqiang delivered the government work report.
• Li Keqiang emphasized the importance of 2022 in the history of the party and the People’s Republic of China.
• Li Keqiang revealed the Chinese government’s main expected growth targets for this year.

The first session of the 14th National People’s Congress was held at the Great Hall of the people on March 5th. The ceremony was attended by party and state leaders, with Prime Minister Li Keqiang delivering the government work report.

In this report, Li Keqiang emphasized the importance of 2022 in the history of the party and the People’s Republic of China. The successful holding of the 20th National Congress of the Communist Party of China has created a grand blueprint for the comprehensive construction of a modern socialist country. Despite the complex international environment and challenging internal reform and development tasks, the Central Committee of the Party, under the leadership of Xi Jinping, has guided people of all nationalities in the country to deal with difficulties, prevent epidemics, stabilize the economy, and develop safely. Efforts have been made to increase the intensity of macro-control, achieve stable economic operation, continuously improve the quality of development, and maintain overall social stability.

Li Keqiang highlighted the various unexpected internal and external factors that have challenged China’s economic growth over the past year – particularly the COVID-19 pandemic. However, under the strong leadership of the Party Central Committee, a synergistic approach was implemented that seamlessly integrated epidemic prevention and control with economic and social development. Despite new economic pressures, decisive measures were taken to ensure stability and recovery.

Notably, GDP growth has amounted to 3 percent, the surveyed urban unemployment rate has fallen to 5.5 percent, and consumer prices have risen by 2 percent, while the aggregate volume of goods imports and exports has increased by 7.7 percent. Additionally, the fiscal deficit rate was kept under control at 2.8%, central government revenue and expenditure were within budget, and the RMB exchange rate remained stable. In the agricultural sector, over 0.685 trillion grams of grain production was achieved.

Furthermore, the quality of China’s biological environment continues to improve. Despite a complex and changing environment, the Chinese government was able to meet its primary development goals, as evidenced by the resilience of their economy, he added.

Li Keqiang revealed that the Chinese government’s main expected growth targets for this year include increasing the GDP growth rate to about 5 percent, generating about 12 million new urban jobs, maintaining a surveyed urban unemployment rate of about 5.5 percent, and increasing consumer prices by about 3 percent.

Additionally, to ensure synchronization between economic and income growth, imports and exports will be promoted. China shall remain focused on controlling fossil fuels, as energy consumption per unit of GDP and emissions of major pollutants continue to decline. Agricultural production with a particular focus on grain will remain at more than 0.65 trillion kilograms. The Chinese government will remain steadfast in improving the quality of the biological environment while ensuring the welfare of the Chinese economy amidst an increasingly complex and ever-changing international landscape.

Li Keqiang underscored the need for steady progress with the objective of maintaining policy continuity and stability and promoting high-quality development. Preferential tax policies will be tweaked to prop up the transformation and upgrading of traditional sectors while bolstering weak links in the industrial chain and promoting strategic emerging industries. To boost self-reliance and development, the government will make changes to science and technology policies. To boost opportunities, especially for college graduates, employment will be prioritized while improving the basic living standards of the people will remain a priority.

Li Keqiang has outlined in the government work report that China’s epidemic prevention and control process has reached the normal stage of “class B management”. During this stage, epidemic prevention and control measures will continue to protect groups highly vulnerable to the virus including the elderly, children, and those suffering from various diseases. The upgrading of vaccines and the development of new drugs will also be promoted to meet the medical needs of the people, ensuring the protection of life and health.

In addition to epidemic management, Li Keqiang has urged for the increase of domestic demand, prioritizing the recovery and expansion of consumption. Efforts to increase urban and rural residents’ incomes through various means are also a priority. Private capital will be encouraged to participate in major national projects in order to stimulate private investment potential.

To further progress China’s industrial modernization, Li Keqiang has insisted on accelerating the digital transformation of traditional industries and small and medium-sized enterprises. Revolutionary breakthroughs in advanced, intelligent, and environmentally friendly industries will be prioritized. The development of digital and platform economies will be supported to enhance China’s future growth potential.

In the government work report, Li Keqiang stressed that increasing food production and promoting rural revitalization are top priorities. The government will strengthen the construction of rural infrastructure, including water projects and the development of high-quality farms, and prioritize the strengthening of industries with rural characteristics, thereby providing ample opportunities for farmers to increase their income and become affluent. The government will continue to consolidate and expand its achievements in poverty alleviation, ensuring that large numbers of people will not fall back into poverty.

Lastly, Li Keqiang also called for the guarantee of people’s basic livelihood and the development of social welfare, particularly in terms of housing security. The government will address the housing problems of new citizens and youth while promoting high-quality and balanced development of compulsory education and the integration of urban and rural areas, organizing professional education, and promoting innovation in higher education. He continued by saying that the government will also strengthen the protection of elderly care services and improve policy systems to support birth rates while taking steps to promote cultural institutions.

Also Read

China approved two nuclear power plants at a cost of $11.5 billion

China last authorised a larger number of nuclear power plants in 2008,...