Ten Key Figures in China's Government Work Report 2014

Figure 3: create ten million more urban jobs


Original text from the report:

Create ten million more urban jobs; ensure that the registered urban unemployment rate does not rise above 4.6%. With 7.27 million college students graduating this year, we need to create more jobs, provide non-stop employment and business startup services, and increase the rate of employment and business startup for college graduates.
We will increase support for urban residents who have difficulty finding jobs, ensure that at least one member in every zero-employment family gets a job, and do an effective job in resettling and providing reemployment to workers laid off due to the shutdown of outdated production facilities. We will provide coordinated employment services to rural migrant workers and demobilized service personnel. We will work hard to create more rewarding and higher quality jobs so that people who work can live a decent and dignified life.

Figure 4: 1.35 trillion yuan

Original text from the report:

The government budget deficit for this year is projected to be 1.35 trillion yuan, an increase of 150 billion yuan over last year. The projected government budget deficit consists of 950 billion yuan of central government deficit and 400 billion yuan of provincial-level government debt in the form of treasury bonds issued by the central government on the provincial governments' behalf. The government deficit and national debt are increasing along with the growth in the overall economy. However, the deficit rate will be kept at 2.1%, which demonstrates continuity of our fiscal policy.

Figure 5: grow by around 13%

Original text from the report:

We will pursue a balanced monetary policy, move toward a basic balance between overall supply and demand in society, and foster a stable monetary and financial environment. We will strengthen macro-prudential management to encourage an appropriate increase of monetary credit and nongovernmental financing. This year, M2 is forecast to grow by around 13%. 

Figure 6: 200 plus items

Original text from the report:

We will deepen reform of the administrative system.

We will further streamline administration and delegate more power to lower-level governments. This is a revolution the government imposes on itself. This year, we will cancel or delegate to lower-level governments an additional 200 plus items previously requiring State Council review and approval.

We will bolster reform of the investment approval system, abolish or simplify preliminary review and approval procedures, give businesses full power over their investment decisions, and make it easy to make investments and start businesses.

We will introduce a system to list all items over which government review and approval are required and release the list to the public. No items not on the list will be subject to government review and approval. We will also comprehensively reorganize items requiring nongovernmental review and approval.

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  Source: People’s Daily  2014-03-21

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