Translated with AI
The fourth session of the 14th National People's Congress has opened in Beijing. Nearly three thousand delegates gathered in the Great Hall of the People. The agenda includes a discussion of the government's work report. This is an important stage, laying the foundations for China's development over the next five-year period.
China has set a 4.5-5 percent economic growth target for this year, emphasizing stability and high-quality development. This was announced by Premier Li Qiang during his government work report at the opening session of the National People's Congress in Beijing on Thursday. The report outlines a clearer macroeconomic course for the country, including measures to expand domestic demand, stabilize employment, and strengthen market confidence.
Premier of the State Council of the People's Republic of China Li Qiang: "Domestically, we focused on what matters most—our own affairs: we improved policy coordination. By preparing for the worst but striving for the best, we managed not only to maintain macroeconomic stability and achieve new progress in qualitative development, but also significantly strengthened morale and confidence in society. During this work, we gained a deeper understanding of what is necessary for success in the new economic environment. We must fully unleash the economy's potential by combining state support measures with reforms and innovation. It is essential to simultaneously stimulate market activity and implement effective regulation, invest in both infrastructure and human capital, and build our own capacity to overcome external challenges."
Despite global economic turbulence and the restructuring of supply chains, China is reaffirming its commitment to openness. Premier Li Qiang has declared his intention to expand institutional cooperation with the world, maintain stable foreign trade, attract foreign investment, and deepen international economic ties. This signals that China continues to move toward globalization, but now with an emphasis on reliability and security.
Premier of the State Council of the People's Republic of China Li Qiang: "To stabilize and improve the quality of foreign trade, we will expand export credit lending and insurance, and increase the cross-border use of the yuan. We plan to help companies optimize their positions in global markets by facilitating the integration of trade and investment, as well as the unification of domestic and foreign trade. New growth drivers will be created: developing the "cross-border e-commerce plus overseas warehouses" model, improving international logistics, expanding trade in intermediate goods, stimulating the digital and green economy, and increasing the efficiency of border trade. Particular attention is being paid to supporting the export of services. To ensure balanced development, we plan to actively increase imports and simplify cross-border trade procedures."
The report also places significant emphasis on technological development and industrial modernization. It focuses on creating "productive forces of a new quality." To this end, the authorities intend to develop modern industry, based on high-tech manufacturing. Furthermore, China intends to achieve technological independence.
The policy statements have now been submitted to delegates for consideration. In the coming days, they will discuss priorities that will shape China's economic course through 2026 and lay the foundation for a five-year plan through 2030. (Photo: Xinhua News)
