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The meeting demanded red tape be cut and encouraged local government and financial institutions to establish funds making full use of tax breaks, financial incentives and transfer payment.
On Sunday evening, Xi planted a spruce tree at the palace in token of the friendship between the peoples of the two countries.
Li Keqiang: I cannot give you the data of China’s GDP growth in the first quarter now. In some time, it will be released by China’s statistical bureau in accordance with law and we will not intervene in those data. On the whole, there has been stability in employment. This is a very important thing, because the ultimate goal of steady growth is to ensure employment. It’s true that our economy is still under downward pressure. Hence, since the fourth quarter of last year, we have made fine-tuning adjustments to our fiscal and monetary policies, but these adjustments are not a QE policy. Instead, they are targeted regulatory steps and they have paid off. Our goal is to keep China’s economic operation within the proper range. We want to achieve not just an approximately 7% growth, but also fairly sufficient employment, increase in household income and improvement of the environment. These preemptive measures and fine-tuning adjustments to our fiscal and monetary policies as well as the government’s self-targeted reform of scaling back administrative power to give more play to the role of the market have managed to offset the downward pressure on economic growth. We have the ability to keep economic operation within the proper range. The Chinese economy has become so large, amounting to 10 trillion US dollars. So, it won’t be easy to achieve another 7% growth this year. This requires vision, perseverance and courage. When the end of the year comes and we need to turn in the report card, we shall ask the people and you too, Mr. Barber, are also welcome to pass the score on how we have performed.
He also identified financial support, more attention to rural and underdeveloped regions, vocational college reform and better vocational and general education synergy as areas that need attention.
In total, 26 ministers and vice ministers from 22 departments of the State Council have briefed journalists from home and abroad and taken questions.