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Like running a bullet train, to develop the economy, the first thing is stability and safety. In the past few years, we have adopted innovative approaches to macro-control, including a new range-based approach. We have set it our upper limit to keep price rises in control and our minimum target to ensure sufficient employment. This range-based approach has effectively stabilized market expectations. This year, we expect the economy to grow by 6.5%-7%, a new range designed to allow certain flexibility with the growth target. Short-term and minor fluctuations in the economy can hardly be avoidable. We will not try to redress these minor fluctuations with moves that are against market rules. But once the economy slips out of the reasonable range, we will definitely take overarching measures in line with the laws of the economy. Currently, the debt-to-GDP ratio of the Chinese government is less than 40%, and for the central government, it is only 17%. We also have a high savings rate. The space is ample to develop a multi-tiered capital market, and new tools are available to introduce innovative regulatory measures to the financial sector. We are not only well positioned to prevent systemic, regional financial risks, but also supported by enough policy tools to keep the economy steady. Last year, for instance, with collaboration among relevant agencies and financial institutions, special funds for specific projects were raised and used based on market-based approaches to expand effective investment. Such an approach strongly facilitated economic restructuring and ensured steady growth. This year, we will continue this practice.
Cui said structural reforms "will bring a brighter future to China's economy and, consequently, greater opportunity to the world."
He urged officers to support, promote and navigate innovation, to enhance the quality, efficiency and sustainability of national defense and military development.
The overall aim is to increase the population's scientific literacy from 6.2 percent in 2015 to above 10 percent in 2020.
Poland, particularly its central city Lodz, will benefit from the OBOR initiative, Polish experts said. Lodz, which sits in the heart of Europe and owns completed transportation, will stand as a promising logistic hub for Poland or even for the Central and Eastern Europe, they argued.