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          Home > News

          Highlights: Premier Li's government work report

          (Xinhua)

          Updated: 2014-03-05

          BEIJING -- Following are the highlights of a government work report distributed to media ahead of the annual session of the National People's Congress (NPC) Wednesday morning.

          MAJOR TARGETS FOR 2014

          -- Gross domestic product (GDP) grows about 7.5 percent.

          -- Consumer Price Index (CPI) increase will be kept around 3.5 percent.

          -- Add 10 million more urban jobs.

          -- Keep the registered urban unemployment rate at a maximum 4.6 percent.

          -- The government will work to increase personal incomes in step with economic development.

          FISCAL AND MONETARY POLICIES FOR 2014

          -- China will continue to implement a proactive fiscal policy and a prudent monetary policy.

          -- The government budget deficit for this year is projected to be 1.35 trillion yuan ($218 billion dollars), an increase of 150 billion yuan over last year, and accounts for 2.1 percent of GDP.

          -- The broad monetary supply (M2) is forecast to grow by around 13 percent. >>

          THREE PRINCIPLES

          -- The government should create impetus by deepening reform.

          -- The government should keep economic performance within a proper range.

          -- The government should work hard to raise the quality and returns of development, promote industrial upgrading and keep improving people's wellbeing.

          DEFENSE BUDGET

          -- China plans to raise its defense budget by 12.2 percent to 808.2 billion yuan (about $132 billion dollars) in 2014, according to a budget report to be reviewed by the country's national legislature.

          -- China spent 720.197 billion yuan on national defense in 2013, a 10.7-percent increase from the previous year. >>


          NINE MAJOR TASKS FOR 2014

          -- Making breakthroughs in reform in important areas.

          -- Ushering in a new phase of China's opening to the outside world and ensuring its high standard performance.

          -- Making domestic demand the main engine driving growth.

          -- Advancing agricultural modernization and rural reform and development.

          -- Carrying out a new type of people-centered urbanization.

          -- Using innovation to support and lead economic structural improvement and upgrading.

          -- Accelerating the development of education, health, culture and other social programs.

          -- Making coordinated efforts to ensure and improve people's wellbeing.

          -- Building China into a beautiful homeland with a sound ecological environment.

          Related: Li details challenges, problems facing China

          CHINA VOWS TO SAFEGUARD POST-WAR INT'L ORDER

          --China pledged to hold high the banner of peace but also vowed to resolutely safeguard its sovereignty and the postwar international order.

          --The country will resolutely safeguard its sovereignty, security and development interests, and fully protect the legitimate rights and interests of Chinese citizens and business overseas.

          --China will play a constructive role in resolving global and hotspot issues and work to make the international order more just and equitable, it said. >>





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