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The minimalist version of the Government Work Report is here! Environmental protection: improve fiscal, tax, financial, investment, pricing policies and related marketization mechanisms to support gre

2024-03-14

On March 5, Premier Li Qiang delivered the government work report to the Second session of the 14th National People's Congress. The main points are as follows:

I. Review of the work in 2023

GDP grew by 5.2%

China's grain output was 1.39 trillion jin

A total of 12.44 million new urban jobs were created

More than 2.2 trillion yuan of tax and fee concessions were added last year

Production and sales of new energy vehicles accounted for more than 60% of the world's total

Exports of electric vehicles, lithium batteries and photovoltaic products increased by nearly 30%

2. Main targets for this year

GDP will increase by around 5%

Over 12 million new urban jobs will be created

The CPI will rise by around 3%

China's grain output exceeded 50 million metric tons

Energy consumption per unit of GDP will be cut by about 2.5%

3. Some key tasks for this year

Finance: The deficit-to-GDP ratio will be set at 3%. Expenditure in the general public budget increased by 1.1 trillion yuan over the previous year

Government investment: 3.9 trillion yuan will be allocated to local government special bonds. 700 billion yuan will be allocated for investment from the central budget

Special government bonds: Starting from this year, we plan to issue super long-term special government bonds for several years in a row, specifically for the implementation of major national strategies and security capacity building in key areas, and issue 1 trillion yuan this year

Future industries: Open up new tracks such as quantum technology and life science

Digital economy: Launch "Artificial intelligence plus" action

Consumption: Encourage and promote the exchange of old consumer goods for new ones, and boost large-scale consumption of smart Internet-connected new energy vehicles and electronic products

Housing: We will increase the construction and supply of low-income housing and improve the basic system for commercial housing

Employment: We will strengthen policies and measures to promote youth employment. We will improve measures to ensure flexible employment services

Rural revitalization: We will implement cost and income insurance policies for the production of the three main grains nationwide. We will strengthen the construction of charging piles, cold chain logistics, and delivery and distribution facilities

Urbanization: Steady implementation of urban renewal initiatives. We will promote solutions to problems such as installing elevators and parking in old residential areas

Education: Launching a campaign to expand and improve the quality of basic education. We will promote inclusive development of preschool education

Government subsidies for medical insurance will be raised by 30 yuan per capita

Social security: The minimum basic pensions for urban and rural residents will be raised by 20 yuan per month, and basic pensions for retirees will continue to be raised. Introduce a personal pension system throughout the country. We will increase the supply of childcare services through multiple channels

Opening up: All restrictions on foreign investment in the manufacturing sector will be lifted, and market access for services such as telecommunications and medical care will be relaxed. Make it easier for foreigners to work, study and travel in China

Environmental protection: We will improve fiscal, tax, financial, investment and pricing policies and related market-oriented mechanisms to support green development


Source: | People's Daily client

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