China’s 2024 Government Work Report Highlights Key Targets for 2025
The full text of China’s Report on the Work of the Government, presented by Premier Li Qiang, was released on March 12, 2024. The report outlines development targets for 2025, including a GDP growth target of around 5 percent, improvements in urban employment, and efforts to enhance environmental quality.
On March 12, 2024, the full text of the Report on the Work of the Government was disseminated through Xinhua News Agency. This report, articulated by Premier Li Qiang, received approval during the third session of the 14th National People’s Congress held on March 11. The report is divided into three key sections:
1. A Review of Our Work in 2024
2. Overall Requirements and Policy Orientations for Economic and Social Development in 2025
3. Major Tasks for 2025
The report outlines targeted projections for development in 2025, which include:
– A GDP growth target of approximately 5 percent
– A surveyed urban unemployment rate of about 5.5 percent
– Creation of over 12 million new urban jobs
– An increase in the Consumer Price Index (CPI) of around 2 percent
– Growth in personal income in alignment with economic expansion
– Achieving a basic equilibrium in the balance of payments
– Grain output estimated at around 700 million metric tons
– A reduction of approximately 3 percent in energy consumption per GDP unit
– Ongoing enhancements in environmental quality.
The recent publication of the government work report outlines China’s strategic direction for 2025, emphasizing economic growth, job creation, and environmental sustainability. The targeted GDP growth and the focus on maintaining unemployment rates and achieving a balanced economy reflect a comprehensive plan aimed at bolstering national development while addressing pressing societal needs.
Original Source: english.news.cn
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