Key highlights of China's 2024 Government Work Report
Premier Li Qiang of the State Council of the People's Republic of China presented the 2024 Government Work Report at the third session of the 14th National People's Congress in Beijing.
This is reported by China daily.
The following are the key points of the report.
Primary Objectives for 2025:
China projects an economic growth target of approximately 5% for 2025, aligning with the nation's medium and long-term development goals
China aims to generate over 12 million new urban jobs by 2025
China has set a target of around 2% for the Consumer Price Index (CPI) growth by 2025
China is establishing a deficit-to-GDP ratio of approximately 4% for 2025
China will allocate 735 billion yuan from the central government's budget for investments in 2025
China will issue an increased volume of local government special-purpose bonds in 2025
China will implement reductions in the reserve requirement ratio and interest rates as necessary in 2025
China will issue an expanded amount of ultra-long special treasury bonds in 2025
China will incentivize long-term and medium-term capital inflows into the market
China will issue special treasury bonds to support state-owned lenders in capital replenishment
China will introduce property transaction restriction policies in select cities
China will gradually implement tuition-free preschool education
China will promote the development of emerging and future industries
China will formulate a suite of major projects to address climate change in 2025
Rural residents, including farmers, will receive additional support
ORIENT
