Ten Key Figures in China's Government Work Report 2014

The report consists of three parts: Review of Work in 2013, General Work Arrangements for 2014, and Major Tasks for 2014. 

The report points out the main targets the government has set for China's economic and social development this year: Increase GDP by about 7.5%, limit the rise in the CPI to around 3.5%, create ten million more urban jobs, ensure that the registered urban unemployment rate does not rise above 4.6%, achieve basic balance in international payments, and increase personal incomes in step with economic development. The government needs to make overall planning for and balance major targets, namely, economic growth, employment, prices and international payments.

As the policy agenda for the first year of the government's comprehensively deepening reform program, the ten numbers in the report provide a useful indicator of the new trends in economic and social development in 2014.

Figure 1: about 7.5%

Original text from the report:

On the basis of careful comparison and repeatedly weighing various factors as well as considering what is necessary and what is possible, we set a growth rate target of around 7.5%. 

This target is in keeping with our goal of completing a moderately prosperous society in all respects, and it will boost market confidence and promote economic structural adjustment. More importantly, stable growth ensures employment. We must meet the need to create new urban jobs and be able to provide opportunities for rural migrant workers who come to cities in search of work. 

Ultimately, stable growth will ensure that urban and rural incomes increase and people's lives improve. There are many positive factors that will help us to fulfill this year's target for economic growth, but to reach it, we must make arduous efforts.

Figure 2: around 3.5%

Original text from the report:

We hope to limit the rise in the CPI to around 3.5%. This is based on consideration of both the carry-over effect of last year's price rises and likely inflationary factors this year. It also demonstrates our resolve and confidence to keep inflation under control and ensure people's wellbeing.

China's agricultural output has increased for several years in a row; supply of manufactured goods on the whole exceeds demand; and we have substantial reserves of grain and other goods and materials. We are fully capable of adjusting supply and demand through import and export, and all these factors will help maintain basic stability in general prices. However, there are many factors driving up prices this year, so we must not lower our guard. We must keep prices under control to ensure that price increases do not exert a significant negative impact on people's lives.

1 2 3 of 3

  Source: People’s Daily  2014-03-21

More on this Story

    Services

    Recommended Reading