Highlights of 2020 Government Work Report

chinadaily.com.cn/Xinhua | Updated: 2020-05-22 09:12
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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, May 22, 2020. [Photo/Xinhua]

Premier Li Keqiang delivered the Government Work Report to the third session of the 13th National People's Congress in Beijing on Friday morning. Here are the highlights:

Main targets for 2020

- China will work to ensure achieving the development goals of winning the battle against poverty and completing the building of a moderately prosperous society in all respects this year, though setting no specific economic growth target for 2020.

- China will prioritize stabilizing employment and ensuring people's livelihood this year, aiming to create more than 9 million new urban jobs.

- China has set its consumer inflation target at around 3.5 percent for the year of 2020.

- China will ensure the elimination of poverty among all rural residents living below the current poverty line and in all poor counties this year.

- China's deficit-to-GDP ratio this year is projected at more than 3.6 percent. The ratio was 0.8 percentage points higher than that of last year. The deficit increase is projected at 1 trillion yuan (about $141.6 billion) over last year.

-China will pursue a prudent monetary policy in a more flexible and appropriate way.

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