Highlights of 2022 Government Work Report of China

Premier Li Keqiang delivered the Government Work Report at the opening of this year’s session of the 13th National People’s Congress in Beijing on Saturday. Here are some highlights from the draft report.

 

Main targets for 2022

 

– China sets its GDP growth target for 2022 at around 5.5 percent

– China plans to create more than 11 million new jobs in 2022

– China will maintain its CPI at around 3 percent in 2022

– China plans to cut the ratio of its deficit to GDP to around 2.8 percent for the year of 2022

– China aims to keep its grain output of over 650 million metric tons in 2022

– China’s tax refunds and cuts are expected to total around 2.5 trillion yuan (about $395 billion) this year

 

Fiscal, monetary policy for 2022

 

– The fundamentals of China’s economy remain unchanged, and they will maintain long-term growth

– The Chinese government will keep its belt tightened and keep spending low to benefit the people

– China’s proactive fiscal policy should be more effectual, more targeted, and more sustainable

– China will step up implementation of the prudent monetary policy in 2022

– China’s prudent monetary policy should be both flexible and appropriate, with reasonably ample liquidity being maintained

– China will keep RMB exchange rate generally stable

– China will take stronger action against monopolies and unfair competition to ensure a well-ordered and fair market environment

– China will encourage financial institutions to lower real loan interest rates and cut fees

 

Social policy for 2022

 

– China will improve measures for the three-child policy

– China will continue its effective routine COVID-19 control to prevent inbound cases and domestic resurgences

– China will fully consolidate and build on its achievements in poverty elimination

– China will step up efforts to study and protect against virus variants, accelerate R&D of vaccines and effective medicines, and continue implementing vaccination programs

– China will take well-ordered steps to achieve peak carbon emissions and carbon neutrality

– China will implement a 10-year action plan on basic research to ensure stable support for scientific and technological innovation over the long term

– China seeks further improvement in the environment in 2022, with continued reduction in the discharge of major pollutants

– China will ensure the area of farmland remains above the redline of 120 million hectares

– China will crack down hard on the trafficking of women and children and protect their lawful rights and interests

– China will continue improving the fairness and quality of education

 

Diplomacy for 2022

 

– China will promote high-quality cooperation under the Belt and Road Initiative

– China will pursue the Global Development Initiative and promote the shared values of all humanity

– China ready to contribute more to world peace, prosperity

 

Source: chinadaily.com.cn

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