The Third Session of the 14th National People's Congress opened in the Great Hall of the People on the morning of the 5th. Xi Jinping and other party and state leaders attended the opening meeting, and Premier Li Qiang delivered a government work report to the conference. Quick reading of key points↓

Review of work in 2024

·Gross domestic product reached 134.9 trillion yuan, an increase of 5%.

·The contribution to global economic growth remains at around 30%.

·There are 12.56 million new jobs in urban areas, and the average urban surveyed unemployment rate is 5.1%.

·Consumer prices rose by 0.2%.

·The balance of international payments is basically balanced, with foreign exchange reserves exceeding US$3.2 trillion.

·The per capita disposable income of residents increased by 5.1%.

·Grain production jumped to a new level of 1.4 trillion jin for the first time.

·The annual output of new energy vehicles has exceeded 13 million.

The main expected development goals for 2025

·Gross Domestic Product (GDP) growth of about 5%.

·The urban surveyed unemployment rate is about 5.5%, and more than 12 million new jobs are created in urban areas.

·The consumer price increase is about 2%; the growth of residents' income is synchronized with economic growth.

·The balance of payments remains basically balanced.

·Grain output is about 1.4 trillion jin.

·Energy consumption per unit of GDP has been reduced by about 3%, and the quality of the ecological environment has continued to improve.

Some key tasks in 2025

Financial policy:

·Application to issue 1.3 trillion yuan of ultra-long-term special treasury bonds.

·It is planned to issue 500 billion yuan of special treasury bonds to support large state-owned commercial banks to supplement capital.

·It is planned to arrange 4.4 trillion yuan of special bonds for local governments.

Boost consumption: Arrange 300 billion yuan of ultra-long-term special government bonds to support consumer goods traded for new products.

Government Investment: 735 billion yuan is planned to be allocated within the central budget this year.

Future industries: Establish a mechanism for future industrial investment growth, and cultivate future industries such as biomanufacturing, quantum technology, embodied intelligence, and 6G.

Industry upgrading: Accelerate the digital transformation of manufacturing and cultivate a group of service providers who understand both the industry and the digital.

Digital Economy:

·Continue to promote the "Artificial Intelligence+" action.

·Supports widespread use of large models.

·Vigorously develop new generation of smart terminals and intelligent manufacturing equipment such as intelligent connected new energy vehicles, artificial intelligence mobile phones and computers, intelligent robots.

Education:

·In-depth implementation of the project to expand and improve quality of basic education.

·Expand the supply of high school education degrees and gradually promote free preschool education.

Science and Technology:

· Improve support policies and market services for the transformation of scientific and technological achievements, and improve the efficiency of transformation of scientific and technological achievements.

·Accelerate the development of venture capital and strengthen patient capital.

Private economy:

·Private enterprises with conditions are encouraged to establish and improve modern enterprise systems with Chinese characteristics.

·The government should incorporate management into services and use the warmth of services to enhance the confidence of enterprises.

Opening:

·Promote comprehensive pilot demonstration of expanding opening up of the service industry, promote orderly opening up of the Internet, culture and other fields, and expand the pilot project of opening up of the telecommunications, medical care, education and other fields.

·Continue to build the "Invest in China" brand.

Housing:

·Restricted measures should be implemented according to the city.

·Promote the acquisition of existing commercial housing and give city governments greater autonomy in terms of acquisition subjects, prices and uses.

·According to the people's high-quality living needs, promote the construction of a safe, comfortable, green and smart "good house".

Rural revitalization:

·Initiate inter-provincial horizontal interest compensation for grain production and sales areas under the central government's coordination, and increase support for major grain-producing counties.

·Promote the integrated development of business development, strengthening counties and enriching the people according to local conditions, and do a good job in "local specialties".

Urbanization: Promote the inclusion of qualified agricultural migrant population into the housing security system and open up channels for participating in social insurance.

Regional development: Support economic provinces to take the lead and formulate support policies in terms of factor guarantee, scientific and technological innovation, reform and opening up first and for trial.

Ecological construction:

·Comprehensively promote the construction of a natural reserve system with national parks as the main body.

·Solidly carry out the second batch of national carbon peak pilot projects and establish a batch of zero-carbon parks and zero-carbon factories.

Employment:

·Coordinate the application of new technologies and job transformation, and create new employment opportunities.

·Strengthen assistance to groups with employment difficulties such as older age, disabled, and unemployment for a long time.

·Strengthen the protection of the rights and interests of workers in flexible employment and new employment forms.

·Accelerate the construction of a skill-oriented salary distribution system, so that those who work harder will get more, those who are skilled will get more, and those who are innovators will get more.

Medical and health services:

· Establish a charging mechanism dominated by medical services and continuously improve medical services with patient-centered approach.

·Optimize drug procurement policies, strengthen quality assessment and supervision, and make the people more at ease using medicine.

·The per capita financial subsidy standards for residents' medical insurance and basic public health services will be increased by another 30 yuan and 5 yuan respectively.

Social Security:

·The minimum standard for basic pension for urban and rural residents will be increased by another 20 yuan, and the basic pension for retirees will be appropriately increased.

·Vigiously develop the silver economy.

·Strengthen care services for children in difficult situations, migrant children and left-behind children.

Production safety: Strictly supervise food and drug supervision, and ensure safety supervision of campus student meals and platform takeaway.

National Defense Army Construction:

·Deeply promote training and preparation, and accelerate the development of new combat effectiveness.

·Cooperate to promote cross-military and local reforms and optimize the national defense science and technology industry system and layout.

Producer丨Li Zhejiang

Editor丨Chai Jing

Editor丨Tan Yao Gao Shaozhuo

Picture source丨Visual China