Highlights of 2022 Government Work Report of China
2022. 3. 6
Highlights of 2022 Government Work Report of China
The opening meeting of the fifth session of the 13th National People's Congress (NPC) began at the Great Hall of the People in Beijing on March 5, attended by Chinese President Xi Jinping and other state leaders. Premier Li Keqiang, on behalf of the State Council, delivered a government work report to the national legislature for deliberation.
Here are some highlights of the work report:
Main Targets Achieved in 2021
- China’s GDP grew 8.1%
- Per capita disposable income increased by 8.1%
- Created over 12.69 million new urban jobs
- Tax and fee reductions introduced in 2021 totaled more than RMB 1 trillion
- Over 85% of the population received a full course of vaccination
Main Targets for 2022
- China sets its GDP growth target for 2022 at around 5.5%
- China plans to create more than 11 million new jobs in 2022
- China will maintain its CPI at around 3% in 2022
- China aims to keep its grain output of over 650 million metric tons in 2022
Major Tasks for 2022
- Fiscal policy: To cut the ratio of its deficit to GDP to around 2.8% for the year 2022, and add the central government transfer payments to local governments about RMB 1.5 trillion with a scale of nearly RMB 9.8 trillion.
- Government investment: To arrange RMB 3.65 trillion of special-purpose bonds for local governments for the year 2022.
- Tax reduction: China's tax refunds and cuts are expected to total around RMB 2.5 trillion (about USD 395 billion) for the year 2022, of which VAT credit refunds will account for RMB 1.5 trillion.
- Employment: To use RMB 100 billion unemployment insurance fund to support enterprises in maintaining stable payrolls and providing training.
- Government service: To provide more government services on a cross-provincial basis, and basically realize mutual nationwide recognition of electronic licenses and certificates.
- Consumption: To continue to support the purchase of new-energy vehicles, and encourage local governments to promote spending on green and smart home appliances in rural areas as well as the replacement of old home appliances.
- Innovation: To implement a 10-year plan on basic research and a three-year action plan for reforming the science and technology management system.
- Rural revitalization: To support areas that have been lifted out of poverty in developing distinctive local businesses, and launch rural initiatives.
- Opening-up: To work to negotiate and conclude high-standard free trade agreements with more countries and regions.
- Environmental protection: To improve policies to support environmental protection industries in conserving water and energy and recycling waste and used materials.
- Education: To continue efforts to reduce the burden on students in compulsory education.
- Medical insurance: Government subsidies for basic medical insurance for rural and non-working urban residents will be increased by an average of RMB 30 per person, and subsidies for basic public health services will be increased by an average of RMB 5 per person.
- Social security: To improve the supporting measures for the three-child birth policy and develop public-interest childcare services to ease the burden of raising a family.
- Housing: To explore new models for housing development. We will move faster to develop the long-term rental market, promote the construction of government-subsidized housing.
- Recreation and sports: To build more sports venues and facilities which are close to the people’s homes.
- Hong Kong, Macao and Taiwan: To help Hong Kong and Macao develop their economies and improve the well-being of their people, and firmly opposes any separatist activities seeking "Taiwan independence".
