Chinese premier delivers government work report

Chinese Premier Li Keqiang started delivering a government work report on behalf of the State Council at the opening meeting of the first session of the 14th National People's Congress, held at the Great Hall of the People on Sunday morning.

Chinese Premier Li Keqiang delivers a government work report at the opening meeting of the first session of the 14th National People's Congress in Beijing, March 5, 2023. (Photo/Xinhua)

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⊛ China aims to expand its economy by around 5 percent in 2023. >>>

⊛ China's deficit-to-GDP ratio is projected at 3 percent for 2023.>>>

⊛ China's annual defense budget will remain single-digit growth for the eighth year in a row, with an increase of 7.2 percent in 2023. >>>

⊛ China targets inflation rate, or increase in consumer price index (CPI), of around 3 percent for 2023.>>>

⊛ China will accelerate the modernization of the industrial system. >>>

⊛ China stabilized the economy, steadily enhanced development quality, and maintained overall social stability in 2022, securing new and hard-won achievements in development. >>>

⊛ China will ensure that growth in personal income is generally in step with national economic growth this year. >>>

⊛ China has secured victory in the critical battle against poverty within the set time frame and worked to consolidate and build on achievements in poverty alleviation. >>>

⊛ China should effectively prevent and defuse major economic and financial risks in 2023. >>>

⊛ China should effectively prevent and defuse major economic and financial risks in 2023. "We should ensure effective risk prevention and mitigation in high-quality, leading real estate enterprises, help them improve debt-to-asset ratios, and prevent unregulated expansion in the real estate market to promote stable development of the real estate sector," government work report said. >>>

Chinese Premier Li Keqiang delivers a government work report at the opening meeting of the first session of the 14th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2023. (Xinhua/Ju Peng)