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Despite fiscal constraints, we continued to intensify efforts to help ensure the wellbeing of our people. New policies were launched to create jobs and business startup opportunities for college graduates and those with difficulties finding employment. Over the course of the year, 7.72 million government-subsidized housing units were basically completed in urban areas, work started on the reconstruction of 6.01 million housing units in rundown urban areas, and 4.32 million dilapidated houses in rural areas were rebuilt, helping large numbers of families that are struggling with housing realize their dream of having a home to settle in. We moved more quickly to improve conditions in badly built and poorly operated schools providing compulsory education in poor areas, deepened the reform of the professional title system for elementary and secondary school teachers, and increased the number of students from poor rural areas who were enrolled in key institutions of higher learning by a further 10.5%. Comprehensive reform was carried out in all public hospitals at the county level, the coverage of the serious disease insurance scheme was extended to more rural and non-working urban residents, a system of assistance for treating major and serious diseases was put in place, and a system for providing living allowances for people with disabilities who are in need and for granting nursing care subsidies to persons with severe disabilities was established. We increased subsistence allowances, benefits for entitled groups, and basic pension benefits for enterprise retirees, implemented the reform of the pension system for employees of Party and government offices and public institutions, and improved their wage system. Efforts to develop basic public cultural services were also intensified. All of this has resulted in a stronger sense of benefit in society.

To enhance financial support to the real economy, the central bank in 2014 introduced a targeted RRR-cut mechanism for banks engaged in proportionate lending to agricultural and small firms, along with a string of requirements attached for banks to be eligible for the narrow-based cut.

The Egyptian president called for further mutual political support and coordination between Egypt and China on international and regional issues, as well as expansion of the bilateral win-win economic cooperation.

China called on both sides to grasp the opportunity, show their sincerity, wisdom and courage to find a solution accommodating concerns and interests of relevant parties as soon as possible, Hong said.

It also bans charity groups without proper certificate or individuals from raising funds from the public. Those who break the rule will have to return the donation and may face a fine ranging from 10,000 yuan to 100,000 yuan. If it is hard to return the funds to donors, the government will confiscate it and transfer to other legal charity groups.