GOVERNMENT WORK REPORT HIGHLIGHTS

On the morning of March 5, the first session of the 13th National People’s Congress (NPC) officially commenced at the Great Hall of the People in Beijing. Premier Li Keqiang delivered the Government Work Report at the meeting, which summarized the remarkable achievements of China’s economic and social development over the last five years and outlined the overall requirements and policy direction for economic and social development in 2018.

The Report laid out a roadmap for the development of the Chinese economy in 2018. Reform of personal income tax,lowering rates for mobile internet services, increasing incomes and deepening poverty alleviation are hot topics affecting all of society.

Notable Achievements of the Last Five Years

Economic strength

Economic structure

Innovation

Income

Poverty alleviation

Slashing taxes and fees

Environmental protection

Supply-side structural reform

Major Tasks for This Year

Basic medical insurance

Housing

Social security

New urbanization

Consumption

Cutting overcapacity

Reducing costs

Preventing and defusing major risks

Streamlining administration,delegating power, improving regulation and strengthening services

Finance and taxation

Targeted poverty alleviation

Rural revitalization

Investment

Environmental protection

Foreign investment