Global EditionASIA 中文雙語Fran?ais
    China
    Home / China / Latest

    NPC opens, no growth target set for 2020

    By Xin Zhiming | chinadaily.com.cn | Updated: 2020-05-22 10:41
    Share
    Share - WeChat
    Deputies attend the third session of the 13th National People's Congress (NPC) opens at the Great Hall of the People in Beijing, May 22, 2020. [Photo/Xinhua]

    China has not set a GDP growth target for this year and will take a slew of forceful financial measures this year to shore up the economy, which has been dragged down by the devastating COVID-19 pandemic, according to the Government Work Report that Premier Li Keqiang delivered to the opening of the third session of the 13th National People's Congress on Friday.

    Xi Jinping, general secretary of the Communist Party of China Central Committee, president, and chairman of the Central Military Commission, and other leaders are attending the meeting at the Great Hall of the People in Beijing.

    The Premier acknowledged that the world's second-largest economy faces "difficult factors" and "uncertainties" due to the novel coronavirus, which has sharply reduced global demand and dampened economic activities.

    "We have not set a specific target for economic growth this year. This is because our country will face some factors that are difficult to predict in its development due to the great uncertainty regarding the COVID-19 pandemic and the world economic and trade environment," he said.

    The Premier said the nation will focus on "ensuring stability on the six fronts and security in the six areas".

    China's policy of "ensuring stability on the six fronts" refers to stabilizing employment, finance, foreign trade, foreign investment, investment and expectations; its policy of "security in the six areas" refers to safeguarding employment, people's livelihoods, the development of market entities, food and energy security, the stable operation of industrial and supply chains, and the smooth functioning of society.

    By implementing those policies, "we will be able to keep the fundamentals of the economy stable", Li said.

    The country will pursue a prudent monetary policy in a more flexible and appropriate way, the Premier said.

    "We will use a variety of tools such as required reserve ratio reductions, interest rate cuts, and re-lending to enable the M2 money supply and aggregate financing to grow at notably higher rates than last year."

    On the fiscal front, the deficit-to-GDP ratio this year is projected at more than 3.6 percent, with a deficit increase of 1 trillion yuan ($140.6 billion) over last year, the Premier said.

    Taxes and fees will continue to be cut to aid the corporate sector, he said.

    Reductions of VAT rates and the share of employees' basic old-age insurance paid by enterprises will be continued, he added.

    The payment of corporate income taxes by micro and small businesses and self-employed individuals will be postponed to next year.

    "We expect that these measures will see additional savings of more than 2.5 trillion yuan for enterprises throughout the year," he said.

    The country also plans to create more than 9 million new urban jobs, keep the surveyed urban unemployment rate at around 6 percent, and keep the consumer inflation level at around 3.5 percent, according to the Government Work Report.

    China's year-on-year GDP growth came in at 6.1 percent in 2019, contributing to about 30 percent of growth of the world economy. But it slumped to a negative 6.8 percent year-on-year in the first quarter of this year due to the severe impact of the COVID-19 epidemic.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
     
    国产精品亚洲а∨无码播放 | 日本免费中文视频| 熟妇人妻中文字幕无码老熟妇| 中文字幕日本人妻久久久免费| 国产热の有码热の无码视频| 精品人妻无码区在线视频 | 在线中文字幕一区| 97无码免费人妻超| 亚洲av无码专区在线播放| 久久久这里有精品中文字幕| 中文字幕在线无码一区二区三区| 无码国产福利av私拍| 久久午夜无码鲁丝片秋霞| 天堂新版8中文在线8| 亚洲一级特黄无码片| AAA级久久久精品无码片| 无码国内精品久久人妻蜜桃| 中文字幕无码精品三级在线电影 | 国产中文在线观看| 天码av无码一区二区三区四区| 日日麻批免费40分钟无码| 曰批全过程免费视频在线观看无码| 最近2018中文字幕在线高清下载 | A狠狠久久蜜臀婷色中文网| 久久精品无码一区二区app| 久久久久无码精品国产不卡| 亚洲AV无码专区电影在线观看| 无码精品A∨在线观看免费| 日本乱偷人妻中文字幕在线| 亚洲欧美中文字幕| 中文精品久久久久国产网址| 亚洲天堂中文资源| 中文字幕夜色资源网站| 久久亚洲中文字幕精品一区四| 国产一区三区二区中文在线| 亚洲国产人成中文幕一级二级| 久久伊人中文无码| 日本无码WWW在线视频观看| 国产AV无码专区亚洲AV手机麻豆| 日韩av无码免费播放| 亚洲va中文字幕无码久久|