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China has scaled down its GDP target for the first time in seven years. Chinese Premier Wen Jiabao lowered the country's growth forecast to 7.5 percent from 8 percent. The Premier presented his government work report this morning as part of the annual meeting of China's legislature. This key document essentially sets the tone for the year's policy priorities.
Premier Wen Jiabao opened the NPC session with his report on the government's work during the past year.
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| On behalf of the State Council, Premier Wen Jiabao presented his annual report on the work of the government. |
He noted that in the face of a complex and volatile political and economic environment abroad, and challenging reform and development tasks at home, great achievements have been made in reform, opening up and socialist modernization.
Wen Jiabao says the government has strengthened and improved macro-control, prevented fast price rises, and achieved steady and robust economic development.
But the premier acknowledged the road ahead isn't easy. Pressures remain both externally and internally. 2012 is Premier Wen Jiabao's last year as Premier and he says he wants to make it count. The government vows to forge ahead with determination, tackle difficult problems directly, and work diligently to achieve results that satisfy the people.
Chinese Premier Wen Jiaobao said:"The main targets for this year's economic and social development are as follows. At the same time, we will make further progress in industrial restructuring, innovation, energy conservation and emissions reduction, and ensure that both urban and rural residents' real incomes increase in line with economic growth."
(CNTV March 6, 2012)
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