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2014-03-06 Premier Li Keqiang Delivers Government Work Report
   2014-03-05 17:56:35    CRIENGLISH.com      Web Editor: Lu Chang

 

Chinese Premier Li Keqiang delivered his first annual government work report during the opening session of the NPC, China's top legislature, Wednesday in Beijing. The report covered key issues facing China today, including economic growth targets, implementing proposed reforms and measures to improve the country's standard of living, among others.

Besides China aiming to hit its GDP target for 2014 of 7.5 percent, the report also sent a strong message to the outside world that China intends to implement further reforms that will be vital to the country's future growth. The government will be further streamlined by exempting more items from central government approval, the market will play a bigger hand in domestic business, enterprises will be granted more liberty to making investment decisions and non-state capital will be permitted to enter the country's most-treasured sectors, such as oil, railway and telecom, which are currently dominated by state-owned enterprises. Likewise, local governments may soon be allowed to issue bonds to garner finance as a way to ease municipal and provincial debt.

The report also touched upon other important issues, such as combating pollution, China's foreign policy agendas and counter-terrorism.

So how do experts assess Premier Li Keqiang's government work report this year? How will the announced measures, if implemented as proposed, impact China in the short and long term?

Ni hao, you're listening to   People In the Know, bringing you insights into the headlines in China and around the world. I'm Zheng Chenguang in Beijing.

We speak to Victor Gao, Director of the China National Association of International Studies and Winston Wang, current affairs commentator and Managing Director of the Beijing-based international private equity firm, the Shipston Group.

 
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