The economy remained stable overall. Gross domestic product (GDP) reached 99.1 trillion yuan, representing a 6.1 percent increase over the previous year. Around 13.52 million new urban jobs were added, and the surveyed unemployment rate was below 5.3 percent. Consumer prices rose by 2.9 percent. A basic equilibrium was maintained in the balance of payments.

Decisive achievements were made in poverty alleviation—the rural poor population was reduced by 11.09 million, and the poverty headcount ratio fell to 0.6 percent.

For the first time, permanent urban residents exceeded 60 percent of the population.

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.

The deficit-to-GDP ratio this year is projected at more than 3.6 percent, with a deficit increase of one trillion yuan over last year. On top of this, one trillion yuan of government bonds for covid-19 control will also be issued. These are extraordinary measures for an unusual time.

Governments at all levels must truly tighten their belt. The Central Government will take the lead by committing to negative growth in its budgetary spending, with a more than 50 percent cut to outlays on non-essential and non-obligatory items.

Eliminating poverty is an obligatory task we must complete in order to build a moderately prosperous society in all respects. We will continue to apply the current poverty alleviation standards, take stronger steps to implement poverty reduction measures, and ensure that all remaining poor people are lifted out of poverty. We will improve and effectively utilize mechanisms for monitoring and assisting people who fall back into poverty and consolidate our gains in poverty alleviation.

 

Chinese Premier Li Keqiang delivers a government work report at the opening meeting of the third session of the 13th National People's Congress at the Great Hall of the People in Beijing on May 22 (XINHUA)

We will help rural residents seek employment or start businesses in places close to their homes, and expand work-relief programs to ensure that those who return to their homes have a job and income.

We will fully implement the system of provincial governors assuming responsibility for the “rice bag” and city mayors for the “vegetable basket.” It is imperative, and it is well within our ability, to ensure the food supply for 1.4 billion Chinese people through our own efforts.

The covid-19 epidemic is the fastest spreading, most extensive, and most challenging public health emergency China has encountered since the founding of the People’s Republic.

As a developing country with 1.4 billion people, it is only by overcoming enormous difficulties that China has been able to contain covid-19 in such a short time while also ensuring our people’s basic needs. Our success has come at a great price. The economy posted negative growth in the first quarter of this year, and daily life and work have been greatly affected. However, life is invaluable. This is a price we must pay, and a price worth paying.

We will make good use of covid-19 bonds, increase inputs into the R&D of vaccines, medicines, and rapid testing technologies, build more medical facilities for epidemic control and treatment, set up more mobile laboratories, ensure emergency supplies, and strengthen public health and epidemic prevention at the primary level.

Illegal hunting and trading of wild animals will be severely punished.

With 8.74 million college students graduating this year, we need to encourage market-based employment. We will adopt a policy to see rural migrant workers have equal access to employment services in the cities where they work. We will help people with disabilities, zero-employment families, and other groups facing difficulty find jobs.

We will promote the industrial internet and boost smart manufacturing. New forms of business such as e-commerce, online shopping, and online services have played an important role during the covid-19 response and more policies will be introduced in support of such businesses. We will advance Internet Plus initiatives across the board and create new competitive strengths in the digital economy.

While continuing to implement regular covid-19 control measures, we will adjust relevant measures and simplify procedures to boost the resumption of work, production, and business activities.

All tax and fee reduction policies must be fully implemented for our businesses, so that they can sustain themselves and assure success for the future.

We will foster an enabling market environment in which all companies, Chinese and foreign, are treated as equals and engaged in fair competition.

We will make good preparations for the third China International Import Expo, work actively to expand imports, and foster a large globally-oriented market of higher standards.

We will step up utilization of foreign capital. The negative list for foreign investment will be significantly shortened, while a negative list will also be drawn up for cross-border trade in services.