China will orderly realize convertibility of its currency renminbi (RMB) on capital account and promote the use of the yuan in the world, a draft outline of the country's five-year plan said.
China will build a second railway connecting Tibet with other parts of the country, according to a draft outline of a five-year plan released Saturday.
By linking up Asia and Latin America, such a trans-Pacific fiber optic cable between China and Chile would do much to spur growth and development on both sides of the Pacific.
China will keep the RMB exchange rate generally stable while continuing with reforms of exchange rate liberalization, according to a government work report to the national legislature annual session.
Delegates from Tibet autonomous region arrive for the opening meeting of the fourth session of China's 12th National People's Congress (NPC) at the Great Hall of the People in Beijing, March 5, 2016.
China will carry out hundreds of programs and projects of scientific, economic and political significance in the upcoming five years, according to the draft 13th five-year plan on economic and social development submitted to the national legislature on Saturday.
China's economy, which grew 6.9 percent last year, was within "an appropriate range," according to a government work report available to media Saturday morning before the opening of the annual parliamentary session.
China will increase deficit-to-GDP ratio to 3 percent this year from 2.3 percent last year, and cut taxes across the board, according to a government work report available to media Saturday morning before the opening of the annual parliamentary session.
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