Premier Li Qiang delivered the Government Work Report at the opening of the third session of the 14th National People's Congress in Beijing on Wednesday. Here are some highlights from the report.
Main targets for 2025:
- China targets economic growth of around 5 percent in 2025
- China aims to create over 12 million new urban jobs in 2025
- China sets CPI growth target of around 2 percent for 2025
- China sets deficit-to-GDP ratio at around 4 percent for 2025
- China to earmark 735 billion yuan in central govt budget for investment in 2025
- China to issue more local government special-purpose bonds in 2025
- China to cut required reserve ratios, interest rates when appropriate in 2025
- China to issue more ultra-long special treasury bonds in 2025
- China to issue more local government special-purpose bonds in 2025
- China to encourage long- and medium-term capital flow into market
- China to issue special treasury bonds to support state-owned lenders in replenishing capital
- China to introduce city-specific policies on property transaction restrictions
- China to gradually implement free preschool education
- China to foster emerging, future industries
- China to develop a package of major projects for climate change response in 2025
