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The 4th session of the 12th National People's Congress opens at the Great Hall of the People in Beijing on March 5. |
As China ended its political high season on March 16 with the approval of the government work report and, along with other bills, a new five-year plan, the country is now looking at historic opportunities that will bring concrete benefits to its citizens and the world beyond.
New momentum boosts economy
As the global economy remains sluggish, the world is concerned about China's performance. At the opening meeting of the fourth session of the 12th National People's Congress (NPC), Chinese Premier Li Keqiang expressed his confidence in the Chinese economy in a government work report that sets this year's economic growth target at between 6.5 and 7 percent and the average annual growth rate over the next five years at above 6.5 percent.
"As long as we stay on the course of reform and opening up, China's economy will not suffer a hard landing," Li told a press conference after the close of the NPC session. [More]
Editor's note:
During the recently concluded annual meetings of China's legislative and advisory bodies, top leaders from the Communist Party of China (CPC) participated in a number of panel discussions with lawmakers from different provincial-level regions and political advisors from various sectors of society. Listed below are some of their most noteworthy remarks from this year's Two Sessions, highlighting the most pressing issues for both politicians and the public. [More]
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Chinese Premier Li Keqiang (6th R) poses for a group photo with foreign leaders attending the Boao Forum for Asia annual conference in Boao, south China's Hainan Province, March 24, 2016. |
Chinese Premier Li Keqiang recently identified China's reform and opening up drive, economic restructuring, and investment in people's livelihood as reliable growth engines, and called for closer financial cooperation among Asian countries.
Just like a high-speed train that is powered by multiple engines installed in individual carriages, China's economy needs stable operation and multiple driving forces, Li said during a keynote speech at the opening ceremony of the 2016 annual conference of the Boao Forum for Asia in China's Hainan Province on March 24.
In terms of reform and opening up, China will step up financial market reforms and retool the economy to cultivate new engines, Li said. According to the premier, China will reform the capital market and draft rules for debt-to-equity swaps, a move that would help ease the nation's high debt levels. The Shenzhen-Hong Kong Stock Connect will be launched within the year, which allows investors to trade on both bourses. [More]
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Setting sail |
The economy tops the agenda at this year's National People's Congress (NPC) with a focus on both prospects for 2016 and the 13th Five Year Plan for 2016-2020. Discussion on both was framed by two major events.
On March 4, Chinese President Xi Jinping made key statements on China's long term economic strategy while attending a panel discussion at the annual meeting of the Chinese People's Political Consultative Conference (CPPCC).
On March 5, Premier Li Keqiang delivered the government's work report to the NPC focusing on medium to short term targets. The relation between the two was clear.
[More]
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Zhou Xinwang |
In his workplace, forty-something Zhou Xinwang is widely known as a stingy guy. The paint on his eyeglass frames has been peeling off for a long time, but he has no intention of changing them.
But to the surprise of his colleagues, in the Guangzhou Entry-Exit Inspection Bureau, Zhou is very generous in voluntary and charitable activities. Over the past 18 years, he has spared no efforts in helping those less fortunate than himself. [More]
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Five concepts for development:
The Communist Party of China called for "innovation-driven development, coordinated development, green development, development for global progress, and development for the benefit of all." (More>> )
The Reform Dividend:
It refers to the totality of the beneficial results in social progress that stem from institutional reform and innovation – benefits that can be channeled towards meeting the people's needs while building momentum for further development. (More>> )
March 21: China-Nepal community of common destiny urged
Chinese President Xi Jinping met with visiting Nepali Prime Minister K. P. Sharma Oli, calling on both governments to carry forward the traditional friendship and expand practical cooperation to make the two nations a "community of common destiny."
March 22: Xi meets German president on stronger ties
President Xi Jinping and his German counterpart Joachim Gauck held talks, agreeing to strengthen the all-round strategic partnership between the two countries.
March 23: China, Zambia agree to enhance cooperation
China and Zambia have agreed to enhance bilateral ties in various fields as Chinese top legislator visited the African country.
China eyes co-op plan for Lancang-Mekong countries
China called on nations along the Lancang-Mekong River to make the upcoming leaders' meeting fruitful for future cooperation.
March 24: Li vows no leniency in scandal over bad vaccines
Premier Li Keqiang said there will be no leniency for anyone involved in a vaccine scandal that has shocked the nation and ignited wide public concern about vaccine safety.
March 25: China announces detailed rules on VAT reform
China's financial and taxation authorities announced a set of detailed rules on value-added tax (VAT) reform, which will be effective from May 1.
