Premier Li opens NPC with strong first report

BEIJING -- The 12th National People's Congress (NPC), China's parliamentary body, opened its second annual session Wednesday morning at the Great Hall of the People in Beijing.

Premier Li Keqiang delivered his first government work report at the opening meeting. Following are the highlights:

MAJOR TARGETS FOR 2014

-- Gross domestic product (GDP) grows about 7.5 percent.

-- Consumer Price Index (CPI) increase will be kept around 3.5 percent.

-- Add 10 million more urban jobs.

-- Keep the registered urban unemployment rate at a maximum 4.6 percent.

-- The government will work to increase personal incomes in step with economic development.

FISCAL AND MONETARY POLICIES FOR 2014

-- China will continue to implement a proactive fiscal policy and a prudent monetary policy.

-- The government budget deficit for this year is projected to be 1.35 trillion yuan ($218 billion dollars), an increase of 150 billion yuan over last year, and accounts for 2.1 percent of GDP.

-- The broad monetary supply (M2) is forecast to grow by around 13 percent. >>

THREE PRINCIPLES

-- The government should create impetus by deepening reform.

-- The government should keep economic performance within a proper range.

-- The government should work hard to raise the quality and returns of development, promote industrial upgrading and keep improving people's wellbeing.

DEFENSE BUDGET

-- China plans to raise its defense budget by 12.2 percent to 808.2 billion yuan (about $132 billion dollars) in 2014, according to a budget report to be reviewed by the country's national legislature.

-- China spent 720.197 billion yuan on national defense in 2013, a 10.7-percent increase from the previous year. >>


NINE MAJOR TASKS FOR 2014

-- Making breakthroughs in reform in important areas.

-- Ushering in a new phase of China's opening to the outside world and ensuring its high standard performance.

-- Making domestic demand the main engine driving growth.

-- Advancing agricultural modernization and rural reform and development.

-- Carrying out a new type of people-centered urbanization.

-- Using innovation to support and lead economic structural improvement and upgrading.

-- Accelerating the development of education, health, culture and other social programs.

-- Making coordinated efforts to ensure and improve people's wellbeing.

-- Building China into a beautiful homeland with a sound ecological environment.

Related: Li details challenges, problems facing China

CHINA VOWS TO SAFEGUARD POST-WAR INT'L ORDER

--China pledged to hold high the banner of peace but also vowed to resolutely safeguard its sovereignty and the postwar international order.

--The country will resolutely safeguard its sovereignty, security and development interests, and fully protect the legitimate rights and interests of Chinese citizens and business overseas.

--China will play a constructive role in resolving global and hotspot issues and work to make the international order more just and equitable, it said. >>

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