Senior experts decoding Government Work Report

Pragmatic targets reflect resilience

By Zhao Zhongxiu

The government work report delivered by the premier fully expresses the tone of seeking progress while maintaining stability, enhancing the confidence and determination for high-quality development.

Setting several development goals for this year, the emphasis is on achieving a GDP growth of around 5 percent, a consumer price index increase of around 2 percent, and a reduction of about 3 percent in energy consumption per unit of GDP, reflecting the resilience and promising prospects of development.

The highlighted key tasks focus on an actively accommodative policy direction, such as increasing the fiscal deficit, expanding government investments, and issuing special government bonds. The report also emphasizes the development of new quality productive forces, including emerging industries like commercial aerospace and the low-altitude economy, nurturing future industries such as biomanufacturing, quantum technology, and 6G, accelerating the digital transformation and intelligent upgrading of the manufacturing industry to enhance development momentum.

Ensuring a solid foundation for economic and social development includes areas such as housing, ecology, employment, education, healthcare and social security. Noteworthy key tasks also include conducting specialized law enforcement actions to regulate business practices, purifying the market environment, intensifying efforts in the renovation of urban villages and dilapidated houses, and stimulating new demand in the existing economy.

Zhao Zhongxiu, president of the University of International Business and Economics.