Graphics: China looks forward to stable growth in next five years
Chinese Premier Li Keqiang presented a report on the government's work at the fourth session of the 13th National People's Congress in Beijing on Friday, reviewing the achievements China has made in 2020 and the 13th Five-Year Plan period (2016-2020) and setting the targets for the 14th Five-Year Plan period (2021-2025) and this year.
China's GDP climbed by 2.3 percent in 2020, becoming the only major economy to achieve positive growth in the pandemic year, and aims to expand by over 6 percent in 2021, with more focus on reform, innovation and high-quality development, according to the report.
"A target of over 6 percent will enable all of us to devote full energy to promoting reform, innovation, and high-quality development," Li said.
This year, the country aims to create more than 11 million new urban jobs, lower the deficit-to-GDP ratio to 3.2 percent, and expand domestic demand and effective investment, which are expected to put the economy firmly back to pre-pandemic vibrancy – China's GDP growth rate was 6 percent in 2019.
In 2021, China will pursue high-quality development, advance supply-side structural reform, and consolidate and expand the achievements of the COVID-19 response and economic and social development, among other major tasks outlined in the report.
To keep the fundamentals of the economy stable, China formulated and implemented macro policies to meet the urgent needs of market entities in the past year. The country helped micro, small, and medium enterprises (MSMEs) and self-employed individuals, which are large in number and extensive in scope. China will continue to implement systematic tax cut policies in the coming year, according to the report.
"These efforts will enable us to get off to a good start in the 14th Five-Year Plan (2021-2015) period and commemorate the centenary of the Communist Party of China with outstanding achievements in development," the Chinese Premier said.
China has eradicated absolute poverty in 2020. The country will consolidate and expand its achievements in poverty alleviation with efforts to promote rural revitalization. A five-year transition will also be introduced to enhance continuous monitoring and assistance mechanisms.
China will also draw up an action plan for carbon emissions to peak by 2030, achieve carbon neutrality by 2060 and improve its industrial structure and energy mix, the Chinese premier said.
China will continue to pursue innovation-driven development and accelerate the modernization of the industrial system. "We will strengthen our science and technology to provide strategic support for China's development," Li said in the report.
The word "development" appeared 135 times in Premier Li's speech, while the word "innovation" showed up 40 times and "employment" 33 times.
This graphic illustrates important words and phrases in this year's government work report. The frequency makes it clear that development is of paramount importance in this year's government work report, along with innovation and employment.
The treemap below highlights new words and phrases that appeared in this year's document compared with last year's work report. One of the key messages of Premier Li's speech is that China will strive to meet people's housing needs.
China also vows to keep its economy running "within an appropriate range" in the 14th Fiver-Year Plan period. China will set annual economic targets in light of actual circumstances during the period, said the report.
Editors: Hu Xuechen, Hu Yiwei, Pan Zhaoyi, Zhao Hong