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In 2010, China's GDP was 5.9 trillion U.S. dollars, overtaking Japan as the world's second-largest economy. In 2015, its GDP rose to 10.42 trillion U.S. dollars, accounting for 14.4 percent of global GDP.
"I'm still haunted by the memory of having little to eat when I was a child. It made me understand later that economic development is for the sake of the people; the essence of China's pursuit of prosperity," he said.
First, we maintained a necessary level of spending intensity. We increased the government deficit by an appropriate amount in the 2015 budget, and put to use funds carried over from previous years to increase the intensity of spending. We took a host of measures, such as thoroughly reviewing carryover and surplus funds and strengthening inspections and accountability, to put existing government funds to use for the purposes of ensuring the wellbeing of the people, strengthening points of weakness, and making development more sustainable. A total of 3.2 trillion yuan worth of bonds were issued to replace outstanding debt of local governments close to maturity, helping reduce their interest burden and debt repayment pressure and free up financial resources for the development of key programs.
China hopes the ISSG will urge relevant parties to fully implement the concrete arrangement and create beneficial external conditions for the resumption of new Geneva talks on Feb. 25.
Joining lawmakers from Jilin Province, Zhang Dejiang, chairman of the National People's Congress (NPC) Standing Committee, called for revitalizing the northeastern industrial base.