- CPI increase of around 3 percent
- growth in personal income in step with economic growth
- a basic equilibrium in the balance of payments
- grain output of over 650 million metric tons
- a drop of around 2.5 percent in energy consumption per unit of GDP
- continued improvements in the environment
In setting these targets, we considered evolving dynamics at home and abroad and other relevant factors as well as what is needed and what is possible. In setting the growth rate at around 5 percent, we have taken into account the need to boost employment and incomes and prevent and defuse risks. This growth rate is well aligned with the objectives of the 14th Five-Year Plan and the goal of basically realizing modernization. It also takes account of the potential for growth and the conditions supporting growth and reflects the requirement to pursue progress and strive to deliver. Achieving this year’s targets will not be easy, so we need to maintain policy focus, work harder, and mobilize the concerted efforts of all sides.
We should adhere to the principles of pursuing progress while ensuring stability, promoting stability through progress, and establishing the new before abolishing the old.
Stability is of overall importance, as it is the basis for everything we do. All localities and government departments should adopt more policies that are conducive to keeping expectations, economic growth, and employment stable. They should take good care in formulating measures that could be contractionary or inhibitive in nature and overhaul or abolish policies and regulations that hinder high-quality development.
Making progress is our goal, and it is also what motivates us. Therefore, we should proactively establish what is needed and resolutely abolish what is obsolete once the new is in place. In particular, we must push ahead with transforming the growth model, making structural adjustments, improving quality, and enhancing performance.
We should intensify counter- and cross-cyclical adjustments through macro policies, continue to implement a proactive fiscal policy and a prudent monetary policy, and strengthen coordination between policy instruments while developing new ones.
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