As the political season wrapped up, Premier Li Keqiang expressed confidence in China’s economy.
CCTV’s Han Peng reports from Beijing.
The National People’s Congress approved Premier Li’s government work report and the 13th Five-Year Plan, with a key figure under the spotlight.
“This year we set the target of GDP growth between 6.5 and 7 percent. This takes into consideration the guarantee of employment and people’s livelihoods. To meet the target, we have acknowledged the challenges of both the sluggish global economic recovery and the continued downward pressure at home,” Premier Li said.
It is the first time in 20 years that China’s GDP target is set as a flexible range, not a point. The move is seen as a signal that the country is becoming less obsessed with the figures, but rather the quality, of its economic development.
Fred Teng on China’s urbanization
China has been promoting urbanization to sustain growth. The country’s top leaders said people are the most important factor in the process.
For more, CCTV America’s Asieh Namdar spoke to Fred Teng, president of America China Public Affairs Institute.
Chinese lawmakers approve five-year plan
China’s top law-making body, the National People’s Congress, has wrapped-up its annual session in Beijing. The session adopted nine documents.
They include the draft resolution on the government work report, and the 13th Five-Year Plan for Economic and Social Development.
CCTV’s Hou Na reports.
China is aiming to double both the size of its economy and, more importantly, its per-capita income by 2020 from 2010 levels.
Another ambitious goal is to lift the poorest of its people out of poverty.
The 13th five-year plan places more emphasis on the prosperity of China’s nearly 1.4 billion people. Lawmakers hope that growth can be translated into benefits for the masses rather than fortunes for a few.