Over the past five years
The five years since the first session of the 12th National People's Congress (NPC) have been a truly remarkable five years in the course of our country’s development.
Over the past five years, economic strength has reached a new high. China’s gross domestic product (GDP) has risen from 54 trillion to 82.7 trillion yuan, registering average annual growth of 7.1 percent; and its share in the global economy has grown to roughly 15 percent, up from 11.4 percent. China’s contribution to global growth has exceeded 30 percent.
Government revenue has increased from 11.7 trillion to 17.3 trillion yuan. Consumer prices rose at an average annual rate of 1.9 percent, maintaining a relatively low level of growth. More than 66 million new urban jobs have been added, and our country, with its population of over 1.3 billion, had achieved relatively full employment.
Over the past five years, the structure of the Chinese economy has seen a major transformation and innovation-driven development has yielded fruitful outcomes.
In manned spaceflight, deep-water exploration, quantum communications, large aircraft development, and more, China has seen a stream of major outcomes of innovation.
In high-speed rail, e-commerce, mobile payments, and the sharing economy, China is leading the world.
Over the past five years, significant headway has been made in reform and opening up. In reform, we have made strong moves across the board, secured major advances in many areas, and driven deeper in pursuing progress, making breakthroughs in reforms in important fields and key links.
The Belt and Road Initiative has been making major progress. The composition of both Chinese foreign trade and foreign investment in China has been improved, with volumes ranking among the largest in the world.
Over the past five years, living standards have been constantly improving. We have made decisive progress in the fight against poverty: More than 68 million people have been lifted out of poverty, including a total of 8.3 million relocated from inhospitable areas, and the poverty headcount ratio has dropped from 10.2 to 3.1 percent.
Personal income has increased by an annual average of 7.4 percent, outpacing economic growth and creating the world's largest middle-income group. Tourist departures have grown from 83 million to over 130 million.
Social old-age pension schemes now cover more than 900 million people, and the basic health insurance plans cover 1.35 billion people, forming the largest social safety net in the world.
Over the past five years, the environment has seen gradual improvement. To address air, water, and soil pollution, we have designed and enforced a ten-point list of measures for each and achieved solid progress.
In the year just passed, all main targets and tasks for economic and social development were accomplished and performance has exceeded expectations.
GDP grew 6.9 percent and personal income rose 7.3 percent, both beating the previous year's growth rates.
Around 13.51 million new urban jobs were created, and the jobless rate was the lowest in recent years.
Industrial growth began to rebound, and corporate profits increased 21 percent. Government revenue grew 7.4 percent, reversing the slowdown in growth.
The total import and export value rose 14.2 percent. Inward foreign investment reached $136.3 billion, hitting a new all-time high.
The state of play in the economy was good, with growth and quality, structural improvement, and performance each reinforcing the other.
Over the past five years, the ground breaking achievements made on every front and the profound and fundamental changes that have taken place, have attracted global attention and are the pride and inspiration of all of us in China.
With a commitment to the general principle of pursuing process while ensuring stability, we have focused on developing new and better approaches to macro regulation, kept major indicators within an appropriate range, and achieved stable, positive economic performance.
We have adopted measures that are good for the near term and even better for the long term, made strong moves to advance supply-side structural reform, appropriately expanded aggregate demand, and worked for a dynamic equilibrium of supply and demand at a higher level.
We have continued to follow a proactive fiscal policy and a prudent monetary policy.
Despite a fairly big imbalance between government revenue and expenditure, China has led the way in slashing taxes and fees with the aim of using accommodative measures to strengthen the basis for sustained growth.
We have adjusted the structure of government expenditure, put idle funds to work, and ensured the spending for undertaking major projects and meeting basic public needs. The deficit-to-GDP ratio has been kept within 3 percent.
With a commitment to treating supply-side structural reform as our main task, we have focused on fostering new growth drivers to speed up economic structural upgrading.
We have persevered in relying on reform to overcome economic difficulties and address structural imbalances, made a big push to foster emerging industries, overhauled and strengthened traditional industries, and improved the quality and performance of the supply system.
Solid work has moved us forward in the five priority tasks of cutting overcapacity, reducing excess inventory, deleveraging, lowering costs, and strengthening areas of weakness.
因城施策分类指导，三四线城市商品住宅去库存取得明显成效，热点城市房价涨势得到控制。Thanks to city-specific policies and category-specific guidance, clear progress has been made in reducing commercial residential housing inventory in third- and fourth-tier cities, and the growth of housing prices in the most popular cities has been brought under control.
We have sped up the replacement of old growth drivers.
China’s in-operation high-speed railways have grown from over 9,000 to 25,000 kilometers, accounting for two thirds of the world’s total.
Over the past five years, new growth drivers have rapidly grown in strength. Economic growth, in the past mainly driven by investment and exports, is now being fueled by consumption, investment, and exports. In the past dependent mainly on secondary industry, growth is now powered by a combination of the primary, secondary, and tertiary industries.
Advancing supply-side structural reform demands removing barriers to market based allocation of the factors of production and reducing government-imposed transaction costs.
With a commitment to innovation-driven development, and a focus on unlocking public creativity, we have achieved a remarkable improvement in our general capacity for making innovations and for seeing that innovation delivers.
We have supported Beijing and Shanghai in building themselves into centers for scientific and technological innovation, and set up 14 new national innovation demonstration zones, thus creating a number of regional innovation hubs.
In the global race of scientific and technological innovation, China has shifted place, from following others to keeping pace and even leading the pack in more and more areas. Our country has become a globally recognized fertile ground for innovation and business ventures.
With a commitment to deepening reform across the board, we have taken major steps to remove institutional barriers, thus steadily boosting the driving forces powering development.
Solid progress has been made in the reform of State-owned enterprises (SOEs) and state assets; the reform to convert SOEs into standard companies has now basically been completed; and efforts to merge and restructure, reduce the organizational levels in, and improve the quality and efficiency of SOEs have made good progress.
We have established unified basic pension and health insurance schemes for rural and non-working urban residents, and brought government office and public institution pension schemes into line with enterprise schemes.
We have carried out coordinated medical service, medical insurance, and pharmaceutical reforms. We have introduced a comprehensive reform in all public hospitals, rescinded the policy, long in effect, of allowing hospitals to profit from higher priced medicine, and made breakthroughs in the reform of approval systems for medicine and medical devices.
With a commitment to China’s fundamental policy of opening up, we have focused on promoting win-win cooperation, and significantly improved the performance of our country’s open economy.
We have launched and worked with other countries in the Belt and Road Initiative. We initiated the Asian Infrastructure Investment Bank, set up the Silk Road Fund, and launched a number of major connectivity and economic and trade cooperation initiatives.
Beginning with the China (Shanghai) Pilot Free Trade Zone, we have established 11 pilot free trade zones. A number of successful outcomes from pilot reforms are now being applied nationwide.
We have moved forward with international cooperation on production capacity; high-speed rail, nuclear power, and other types of Chinese equipment have entered international markets.
With a commitment to implementing the coordinated regional development and new urbanization strategies, we have promoted more balanced development, and seen new growth poles and belts developing faster.
We have actively pursued coordinated development of Beijing, Tianjin, and Hebei, and the development of the Yangtze Economic Belt, drawn up and implemented related plans, and undertaken a number of key projects.
We have unveiled a whole series of reforms and innovative measures to see the western region develop, northeast China revitalized, the central region rise, and the eastern region spearhead development.
We have stepped up support for old revolutionary base areas, areas with large ethnic minority populations, border areas, and poor areas, and strengthened aid work in Tibet, Xinjiang, and Qinghai.
The vast majority of cities in China have eased restrictions on permanent residency. A residence card system has been put into effect nationwide, and basic urban public services now cover all permanent residents. Development between urban and rural areas and between regions has become better coordinated.
With a commitment to a people-centered development philosophy, we have endeavored to ensure and improve living standards and seen the growing satisfaction of the people.
Despite fiscal constraints, we have consistently increased spending on improving people’s living standards.
Government subsidies for basic medical insurance schemes have been increased from 240 to 450 yuan per person; the serious disease insurance system is basically in place, and has already benefited more than 17 million people; the costs of hospitalization can now be settled where incurred; and the development of tiered medical diagnosis and treatment and healthcare consortiums has picked up pace.
With a commitment to achieving harmony between human and nature, we have taken major steps to address pollution, and achieved notable progress in ecological conservation.
We have established the notion that lucid waters and lush mountains are invaluable assets and acted with resolve and intensity as never before to strengthen environmental protection.
We have struck out hard against air pollution, thus achieving a drop of over 30 percent in the average density of fine particulate matter (PM2.5) in key areas.
We have improved fuel quality, and taken over 20 million high-emission and old vehicles off the roads.
With a commitment to fully performing government functions in accordance with law, we have focused on enhancing and developing new forms of social governance, and ensured social harmony and stability.
We have submitted proposals to the NPC Standing Committee on formulating or revising 95 laws, formulated or revised 195 sets of administrative regulations, and revised or rescinded a large number of government department regulations.
Lists of powers and obligations have been formulated and released by provincial, city and county government departments. We have introduced State Council accountability inspections and special inspections, and commended and created policy incentives for those working proactively and doing an outstanding job, while holding strictly to account those failing to fulfill their duties.
Over the past five years, under the leadership of the Party Central Committee and the Central Military Commission, we have embarked on a new stage in strengthening and energizing the armed forces. With the cooperation of all those involved, we have basically completed the task of reducing the armed forces by 300,000 troops.
Over the past five years, we have pursued distinctively Chinese major country diplomacy on all fronts. We successfully hosted the first Belt and Road Forum for International Cooperation, the 22nd APEC Economic Leaders Meeting, the G20 Hangzhou Summit, the BRICS Xiamen Summit, and other major diplomatic events at home.
President Xi Jinping and other Chinese leaders have visited many countries and attended major events including United Nations summits, Climate Change Conferences, World Economic Forum meetings, and the East Asian Leaders Meetings on Cooperation. China's diplomatic agenda has been further advanced on every front.
With a deep sense of responsibility to our country and people, with courage in the face of adversity, and with determination that won’t be broken, we must give our work everything we’ve got, to make sure that the people’s government does not let the people down.
The overall requirements and policy direction for economic and social development in 2018.
GDP growth of around 6.5 percent
CPI increase of around 3 percent
Over 11 million new urban jobs, the surveyed urban unemployment rate within 5.5 percent, and the registered urban jobless rate within 4.5 percent.
Basic parity in personal income growth and economic growth
A steady rise in import and export volumes, and a basic equilibrium in the balance of payments
A drop of at least 3 percent in energy consumption per unit of GDP, and continued reductions in the release of major pollutants
Substantive progress in supply-side structural reform, basically stable macro leverage, and systematic and effective prevention and control of risk
The proactive direction of our fiscal policy will remain the same, and we will concentrate efforts to increase efficiency.
Our prudent monetary policy will remain neutral, with easing or tightening only as appropriate.
For government to deliver this year, we must act on Xi Jinping's economic thinking for new-era socialism with Chinese characteristics, continue following the general principle of pursuing progress while ensuring stability, and regard stability and progress as being indivisible. Specifically, we will do the following:
First, we will strongly promote high-quality development.
Second, we will be bolder in reform and opening up.
Third, we will ensure success in the three critical battles against potential risk, poverty, and pollution, battles that are important for decisively bringing to completion the building of a moderately prosperous society in all respects.
What we propose for the work of government in 2018.
Stepping up supply-side structural reform
In economic development we need to focus on the real economy. We will continue to cut overcapacity, reduce excess inventory, deleverage, lower costs, and strengthen areas of weakness. We will take big steps to streamline administration and cut taxes and fees, keep improving the business environment, and further energize market entities, to increase the quality of economic growth.
We will develop powerful new growth drivers.
We will create big, strong, industrial clusters in emerging industries, implement the big data development action plan, step up next-generation artificial intelligence R&D and application, and do more to promote the Internet Plus model in many fields like medical care, eldercare, education, culture, and sports.
We will significantly lower the rates of home broadband, and corporate broadband and dedicated internet access services; domestic data roaming charges will be abolished, and rates for mobile internet services will be cut by at least 30 percent.
We will speed up work to build China into a leader in manufacturing.
We will continue cutting ineffective supply.
This year, we will further cut steel production capacity by around 30 million metric tons and coal production capacity by approximately 150 million metric tons. Coal-fired power generating units with a capacity of less than 300,000 kilowatts that fail to meet standards will be closed.
We will deepen the reforms designed to delegate powers, improve regulation, and provide better services.
The time it takes for a construction project to get government approval will again be halved.
We will further lighten the tax burden on businesses.
These measures will, over the year, reduce taxes on businesses and individuals by more than 800 billion yuan, promote the transformation and upgrading of the real economy, and do much to unleash market vitality and public creativity.
We will slash non-tax burdens on businesses.
We will continue the policy of lowering the share paid by businesses for contributions to old-age pension, medical insurance, unemployment insurance, workers' compensation, maternity insurance, and housing provident fund schemes for the time being.
Moving faster to make China a country of innovators
The latest global revolution in science and technology and industrial transformation are trends we must be on board with. We will do more in implementing the innovation-driven development strategy, and keep on making the Chinese economy more innovative and competitive.
We will improve national innovation systems.
We will strengthen efforts to reduce smog and prevent and cure cancers and other serious diseases, thus making science and technology do more to benefit the people.
We will act on and improve policies that stimulate innovation.
We will see the nationwide business startup and innovation drive is taken to the next level.
Deepening reforms in fundamental and key areas
We will, drawing on the important momentum generated by the 40th anniversary of reform and opening up, endeavor to make new breakthroughs in reform, and continue to unleash and develop productive forces.
We will advance the reform of state capital and SOEs.
We will support the development of private enterprises.
We will improve property rights systems and mechanisms for market-based allocation of the factors of production.
We will continue structural fiscal and tax reforms.
We will improve local tax systems, and prudently advance legislation on real estate tax. We will reform the personal income tax.
We will speed up reforms in the financial sector.
We will advance institutional social reforms.
We will build a more robust system for developing an ecological civilization.
Fighting three critical battles
To fulfill our key annual tasks, we need to make everyone involved clear about their responsibilities, strengthen policy implementation, and ensure that every element of work is done to good, solid effect.
We will strive for notable progress in forestalling and defusing major risks.
There will be a serious crackdown on activities that violate the law like illegal fundraising and financial fraud.
We will forestall and defuse local government debt risk.
We will step up targeted poverty alleviation.
This year, we will further reduce the poor rural population by over 10 million, including 2.8 million people who are to be relocated from inhospitable areas.
We will work to make greater progress in addressing pollution.
This year, we will cut sulfur dioxide and nitrogen oxide emissions by 3 percent and achieve a continuous decline in PM2.5 density in key areas.
We will completely prohibit garbage from being brought into China.
Making strong moves in the rural revitalization strategy
Plans will be designed and the institutions and mechanisms needed to achieve integrated urban-rural development will be improved. We will rely on reform and innovation to build powerful new growth drivers for rural development.
We will advance supply-side structural reform in agriculture.
We will cultivate new types of agribusiness and improve commercial services catering to small agricultural households.
We will deepen all rural reforms.
We will implement the policy extending second round rural land contracts by another 30 years upon their expiration.
We will experiment with separating the ownership rights, qualification rights, and use rights for rural land designated for housing.
We will promote the full development of all programs in rural areas.
We will take steady steps in carrying out a three-year campaign to improve rural living environments, and continue the Toilet Revolution.
Making solid progress in the coordinated regional development strategy
We will create a new landscape in regional development.
We will step up support for reform and development in old revolutionary base areas, areas with large ethnic minority populations, border areas, and poor areas.
We will strengthen the maritime economy, and resolutely safeguard China's maritime rights and interests.
We will pursue better-quality new urbanization.
This year, another 13 million people will be registered as permanent urban residents, and we will speed up work on granting permanent urban residency to people from rural areas living in cities.
Satisfying the needs of the people is what new urbanization is all about.
Actively increasing consumption and promoting effective investment
We will strengthen the fundamental role of consumption in driving economic growth.
We will promote consumption upgrading and develop new forms and models of consumption.
We will extend preferential policies on purchase tax on new-energy vehicles by another three years, and rescind all local policies that restrict sales of non-local second-hand vehicles.
We will create integrated tourism demonstration zones, and lower ticket prices at key state tourist sites.
We will enable investment to play the pivotal role in improving the supply structure.
This year will see 732 billion yuan invested in railway construction and around 1.8 trillion yuan invested in highway and waterway projects; the scale of investment in ongoing water conservancy projects will reach 1 trillion yuan.
Creating a new landscape in all-around opening up
China will further expand the scope and raise the quality of its opening up; the structure, layout, institutions, and mechanisms for opening up will be improved, and we will used high-standard opening up to generate high-quality development.
We will advance international cooperation under the Belt and Road Initiative.
We will expand opening up in the western region, inland areas, and border areas, creating new opportunities for China's economic cooperation with other countries.
We will promote a steady growth in foreign investment.
We will strengthen alignment with international business rules, and foster a world-class business environment.
Overseas investors will be granted tax deferral for the reinvestment of profit made in China.
We will consolidate the healthy trend toward stable growth in foreign trade.
We will expand the coverage of export credit insurance, and shave another third off the total time taken for customs clearance.
We will promote trade and investment liberalization and facilitation.
China calls for trade disputes to be settled through discussion as equals, opposes trade protectionism, and will resolutely safeguard its lawful rights.
Doing more to ensure and improve people's wellbeing
We will, in line with economic growth, do more to directly benefit the people, address the difficulties that affect their lives, and ensure that their basic living needs are met. Our aim is to help people feel more satisfied, happier, and more secure.
We will focus on boosting employment and business startups.
We will improve labor relations consultation mechanisms, put an end to gender and identity discrimination, and work to make fairer and fuller employment an outstanding highlight of our country's development.
We will steadily increase people's incomes.
We will raise the personal income tax threshold and create expense deductions for items like children's education and treatment for serious diseases, appropriately lightening burdens, and encouraging our people to increase their incomes and achieve prosperity through hard work.
We will develop fair, high-quality education.
Children are the hope of their families and the future of our nation. We will increase the supply of preschool educational resources through multiple channels and us the internet and other IT-based approaches to strengthen oversight over the whole process of childcare provision, making certain that parents can have peace of mind.
We will implement the Healthy China strategy.
We will raise the basic medical insurance and serious disease insurance benefits. Per capita government subsidies for basic health insurance for rural and non-working urban residents will be increased by 40 yuan, half of which will be used for the serious disease insurance scheme.
We will better address people's housing needs.
We will launch a new three-year renovation plan to address housing in rundown urban areas, starting with construction this year on 5.8 million units.
We need to speed up the establishment of a housing system with multiple types of suppliers, multiple channels for housing support, and encouragement for both renting and purchase, so that more people will soon have a place to call home.
We will strengthen efforts to meet people's basic living needs.
We will steadily raise urban and rural subsistence allowances, social assistance benefits, and benefits for entitled groups.
We will development a new model of social governance based on collaboration, co-governance, and common gains.
We will strengthen work on building the social credit system.
We will develop new approaches to handling public complaints, and see that the justified demands of our people are addressed promptly in accordance with law.
We will continue the Peaceful China initiative, take strict preventive measures against violent and terrorist activities and see them firmly stamped out, and launch a campaign to crack down on organized crime and local mafia in accordance with law.
We must provide rich cultural nourishment to help our people to live better lives.
Entering a new era, the government's work in the new year must bring new steps and make new advances.
All governance will be exercised in accordance with the Constitution and the law.
Ours is a government of the people, and everything we do should reflect their will. Whether we've done a good job only the outcomes can tell and ultimately it is for the people to judge.
All initiatives to improve Party conduct and ensure clean government will be strengthened.
All government employees must cultivate personal integrity and have a strong work ethic and sense of responsibility; we must keep our hands clean and work hard for the people, and never fail to live up to the name of the people's public servants.
All aspects of government performance will be improved.
We in government need to improve our political integrity and professional competence, be realistic and pragmatic, and make doing our top priority.
The Chinese nation is a big family in which we live together in peace, unity, and amity. We will uphold and improve the system of regional ethnic autonomy and fully implement the Party's polices on ethnic groups.
Faced with profound changes in the national security environment, we must treat the Party's goal of building stronger armed forces for the new ear as our guide, and firmly uphold the guiding position of Xi Jinping's thinking on strengthening the armed forces as we develop national defense and the armed forces. We will stick to the Chinese path in strengthening our armed forces, advance all aspects of military training and war preparedness, and firmly and resolvedly safeguard national sovereignty, security, and development interests.
We, at every level of government, must take more effective measures to support the development and reform of our national defense and armed forces, so that the unity between government and the military and between the people and the military is always strong as stone, and deeply rooted as an evergreen.
We have every confidence that Hong Kong and Macao will develop and thrive together with the mainland.
We will remain firm in safeguarding China's sovereignty and territorial integrity, and will never tolerate any separatist schemes or activities for "Taiwan independence."
Unity gives us strength; good solid work will shape our future.
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