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Work reports illustrated: A visual guide to China's 2014 targets

Source:Globaltimes.cn Published: 2014-3-5 21:52:00

           Stats and Figures 

 

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 Gross domestic product (GDP) grows about 7.5 percent. 

Meng Xiaosu, board chairman of the China National Real Estate Development Group Co
"This target matches China's current economic development and is in line with growth over the past 30 years," Meng told the People's Daily Online. China could achieve widespread affluence by 2020 if it maintains a GDP target of over 7 percent, he added. 

Xu Hongcai, head of the Department of Information under the China Center for International Economic Exchanges
China considers employment rate and average income when determining the GDP growth target, Xu told news portal 163.com. China may have difficulties in making improvements if that target is set below 7.5 percent. 

Although economic growth has slowed, GDP growth of 7.5 percent is still attainable, Xu added.

Wang Tao, economist at Union Bank of Switzerland (Hong Kong)
Wang called China's GDP growth target for 2014 "a little bit radical", as economic development may be restricted by China's reform scheme and planned environmental protection measures. 

"It seems that the government still puts priority on economic growth and hopes to solve its other problems through development," said Wang, adding that fiscal reform of both the central and local governments will likely be gradual.

 The central government will cancel or delegate to lower-level governments another 200 administrative approvals at least. 

Cai Dafeng, vice president of Fudan University and member of Chinese People's Political Consultative Committee (CPPCC)
Reducing administrative approval would help to increase government efficiency and stimulate the market.

Wei Jianguo, secretary-general of the China Center for International Economic Exchanges (CCIEE)
"The central government canceling or delegating to lower-level government administrative approval is the most important signal of reform," Wei told the People's Daily Online. This will help aid the market in determining allocation of resources, he added.

Liu Shengjun, deputy executive director of the China Europe International Business School's Lujiazui International Finance Research Center
"More focus should be placed on which areas administrative approvals are canceled rather than the total amount. Reducing administrative approvals on enterprise investment and financing is a bigger move," Liu analyzed.

 The government budget deficit for 2014 is projected to be 1.35 trillion yuan ($218 billion), an increase of 150 billion yuan over last year, and accounts for 2.1 percent of GDP. 

Wang Jingwu, head of the central bank's Guangzhou branch and deputy to the National People's Congress (NPC)
"Figures indicate that the government intends to control risk by creating a prudent monetary policy," said Wang, who added that encouraging innovation in finance, such as Internet finance, will encourage reform of market-set interest rates and stimulate market vitality. 

 New energy 

Meng Xiaosu, board chairman of the China National Real Estate Development Group Co 
China is the world's richest country in shale gas. According to predictions by US experts, China's shale gas reserves are 1.5 to 2 times that of the US. We need to gain the advanced technologies to exploit it. New energy sources will help solve China's environmental issues.

 Cross-Straits relations

Wei Jianguo, secretary-general of the China Center for International Economic Exchanges (CCIEE)
The idea that both sides of the Taiwan Strait all belong to one family is consistent with the "one country, two systems" policy proposed by China's late leader Deng Xiaoping. I hope that the mainland and Taiwan can be closer. Enterprises in the Chinese mainland and Taiwan should work together, just as the honorary chairman of the Kuomintang Lien Chan has stated.

 China plans to raise its defense budget by 12.2 percent to 808.2 billion yuan (about $132 billion) in 2014.

Meng Xiaosu, board chairman of the China National Real Estate Development Group Co
As the economy thrives, China is better able to strengthen its national defense. We should make efforts to develop the sixth generation fighter aircrafts and building more aircraft carriers and warships to safeguard China's sovereignty. 

 China will carry out a new-type of people-centered urbanization.

Meng Xiaosu, board chairman of the China National Real Estate Development Group Co 
China plans to push reforms for the hukou, or household registration system, and gradually grant urban residency to those capable migrant workers and their families who are willing to work or conduct business in cities for an extended period, according to the latest government work report. This is exactly why China's urbanization rate is 52.5 percent, while the actual registered population accounts for 35 percent. First, we should allow migrant workers to become registered urban residents in order to better integrate into their cities. This would not only effectively drive urbanization development, but also increase farmers' salaries to that of urban residents, or three times the current average. 

If the government policy to stimulate domestic demand focuses only on increasing incomes for the rich, this is not only unreasonable but also unhelpful. In contrast, increasing salaries among low-income workers, especially farmers, would create a huge demand for food, clothing, commodities, houses and cars.

Zhang Liqun, a researcher with the Development Research Center of the State Council
Granting urban residency to rural migrants and regulating the urbanization of around 100 million living in central and western regions in cities will stimulate consumer market growth. Rebuilding decaying city areas and urban villages, which is home to around 100 million people, can potentially drive investment in real estate and urban infrastructure. 

Liu Shangxi, deputy director of the Research Institute for Fiscal Science
This report targets three groups of people, each numbering at about 100 million. This, however, requires industrial, employment and social reforms. It means to approach urbanization more systematically and scientifically.  

Wei Jianguo, secretary-general of the China Center for International Economic Exchanges
We should deeply assess China's past urbanization efforts, which have resulted in similar-looking cities that have lost their historic or characteristic landmarks. Improved urban planning is required to correct these problems from repeating.

 Social constructions such as on education, health and culture

Xiong Bingqi, vice president of the 21st Century Education Research Institute
The report delivers a clear message that the government's primary duty is providing equal access to education. 

Liu Yucun, member of Chinese People's Political Consultative Committee (CPPCC) and president of Peking University First Hospital
The difficulty of medical insurance reform lies in that it involves both government and market interests, supplier and consumer, doctor and patient, reform and investment. But no matter the difficulties, we must solve them and move forward.

 One-child policy

Meng Xiaosu, board chairman of the China National Real Estate Development Group Co
The government work report indicates that China will allow couples to have two children, providing one of the parents is an only child. This move will perfect our country's family-planning policy and ease growing concerns over China's aging population.

 Social security and livelihood

Liu Shangxi, deputy director of the Research Institute for Fiscal Science
According to the report, "Employment, income and social security are the basis of people's wellbeing," when in fact, these factors are rigidly interdependent. Policy makers should take this into consideration and strive to create a positive and dynamic relationship between these factors. 


Web editor: pangqi@globaltimes.com.cn

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