Premier Li Keqiang delivers the annual government work report at the 5th Plenum of the 12th National People’s Congress at the Great Hall of the People in Beijing on March 5, 2017. (Photo : CGTN/YouTube)
Various economic goals, social reforms, and environmental protection measures comprised the government’s annual work report presented during the fifth session of the 12th National People’s Congress at the Great Hall of the People in Beijing on March 5, reported China News Service.
More than 3,000 legislators listened as Premier Li Keqiang delivered the report.
Compared to the 6.5 percent to 7 percent target in 2016, China set its target GDP growth this year to around 6.5 percent.
Li said that through “hard work” and the country’s “sound economic fundamentals,” the target established is “attainable.”
According to the report, in carrying out China’s work priorities, the government will impose improved fiscal and monetary policies.
It will also continue to work on the stability of the Chinese yuan.
Against the U.S. dollars, the yuan dropped around 6.8 percent in 2016.
Overall, according to analysts, the country’s economic growth and foreign exchange reserves will sustain the stability of the yuan.
“China’s forex reserves are more than sufficient,” said Pan Gongsheng, People’s Bank of China Deputy Director, when interviewed at the annual session of the Chinese People’s Political Consultative Conference National Committee on March 4.
Prior to Sunday’s session, the media received a copy of the government work report where a plan to construct a railway to the tune of 800 billion yuan was mentioned.
Along with this multibillion-dollar rail project, China’s work priorities include the constructions of waterways and highways worth 1.8 trillion yuan.
In terms of protecting the environment, Li said, “We will make our skies blue again,” quoted BBC.
The government will conduct “round-the-clock online monitoring” of industrial pollution, added Li.
As a way of rendering support to people working hard to buy their own house, Li said that the government will regulate the property market and make it stable, reported The Strait Times.
For the migrant workers eyeing houses in the third- and fourth-tier cities, the report offers this piece of good news: excessive real estate inventory will be cut.
In general, according to China News Service, the report acknowledged the problems China faces, which should be taken seriously.
Reading the report, Li nonetheless reminded the officials that they “must remain confident that they will be overcome.”
“We have good conditions for sustaining economic development,” assured Li.
