The simplified version of the government work report is here! Only 800 words

On March 5th, Premier Li Qiang delivered the government work report at the third session of the 14th National People's Congress, with the following key points:

I. Review of Work in 2024

Gross Domestic Product (GDP) growth of 5%

Grain production has reached a new level of 1.4 trillion jin for the first time

Urban employment increased by 12.56 million people

Annual production of new energy vehicles exceeded 13 million units

II. Main Expected Goals for This Year

GDP growth of around 5%

Urban employment increase of over 12 million people

Consumer price index increase of around 2%

Grain production of around 1.4 trillion jin

Energy consumption per unit of GDP reduced by around 3%

III. Some Key Work for This Year

Finance: The deficit ratio is planned to be arranged at around 4%, with a deficit scale increased by 1.6 trillion yuan compared to the previous year

Government Investment: It is planned to arrange 4.4 trillion yuan in special bonds for local governments, an increase of 500 billion yuan compared to the previous year. The total new government debt scale will be 11.86 trillion yuan, an increase of 2.9 trillion yuan compared to the previous year

Special Government Bonds: It is planned to issue 1.3 trillion yuan in ultra-long-term special government bonds, an increase of 300 billion yuan compared to the previous year. It is planned to issue 500 billion yuan in special government bonds

Consumption: Implement special actions to boost consumption. Arrange 300 billion yuan in ultra-long-term special government bonds to support the replacement of old consumer goods

New Quality Productive Forces: Promote the safe and healthy development of emerging industries such as commercial aerospace and low-altitude economy. Cultivate future industries such as biological manufacturing, quantum technology, embodied intelligence, and 6G. Accelerate the digital transformation of manufacturing. Vigorously develop new generation smart terminals such as intelligent connected new energy vehicles, artificial intelligence smartphones and computers, intelligent robots, and smart manufacturing equipment

Education: Expand the supply of high school education degrees and gradually implement free preschool education

Market Environment: Implement a long-term mechanism to solve the problem of overdue corporate payments. Carry out special actions to standardize enterprise-related law enforcement

Opening Up: Promote the orderly opening of the internet, culture, and other fields, and expand pilot projects in telecommunications, healthcare, education, and other fields

Housing: Continue to promote the stabilization of the real estate market. Strengthen the renovation of urban villages and dilapidated houses. Promote the acquisition of existing commercial housing. Continue to ensure the delivery of housing

Rural Revitalization: Deeply implement the seed industry revitalization action. Launch inter-provincial horizontal benefit compensation for grain production and sales areas under central coordination, and increase support for major grain-producing counties. Broaden channels for farmers to increase income

Urbanization: Promote the inclusion of eligible agricultural transfer populations into the housing security system. Continue to advance urban renewal and the renovation of old urban communities

Ecology: Improve the green consumption incentive mechanism and promote the formation of green and low-carbon production and lifestyle

Employment: Broaden employment and entrepreneurship channels for college graduates and other youth. Strengthen the protection of rights and interests for flexible employment and new employment forms. Improve the treatment level of skilled talents

Healthcare: Optimize the drug procurement policy, strengthen quality assessment and supervision. Increase the per capita financial subsidy standards for resident medical insurance and basic public health services by 30 yuan and 5 yuan respectively

Social Security: Increase the minimum standard for basic pensions for urban and rural residents by 20 yuan. Formulate policies to promote childbirth and provide childcare subsidies Risk Warning and Disclaimer

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