Highlights of Wen's Report WORK REVIEW IN 2009 (condensed by Billy T, but still long):
-- China's GDP reached 33.5 trillion yuan, up 8.7 percent from a year earlier.
-- Fiscal revenue was 6.85 trillion yuan, up 11.7 percent year on year.
-- Grain production was 531 million tonnes, a new record for the sixth consecutive year.
-- 11.02 million urban job created
-- The per capita disposable income of urban residents was 17,175 yuan, up 9.8 percent in real terms,
while the net per capita income of rural residents was 5,153 yuan, rising 8.5 percent in real terms. ******See Billy T footnote comment
-- Public investment was 924.3 billion yuan, 503.8 billion yuan more than in the previous year's budget.
-- Invested 654.5 billion yuan to support the post-Wenchuan earthquake recovery and reconstruction work.
-- 725.3 billion yuan to support agriculture, rural areas and farmers, an increase of 21.8 percent.
-- A total of 20 billion yuan was provided to support 4,441 technological upgrading projects.
-- 2009 imports and exports totaled $2.2 trillion.
-- Foreign direct investment amounted to $90 billion for the entire year.
-- The central government spent 127.7 billion yuan on medical and health care, an increase of 49.5 percent.
China invested big to improve people's livelihood in '09
44 percent of the total public investment from the central budget, to improve people's livelihood last year.
Note blue text lines are links to related articles at the source, but do not copy here in this post.
MAJOR TARGETS for 2010
-- GDP will grow by about 8 percent; Full Story
-- Urban employment will increase by more than 9 million people;
-- Urban registered unemployment rate will be kept no higher than 4.6 percent;
-- Rise in the CPI will be held around 3 percent;
-- Balance of payments will be improved;
-- Sound development, and transforming the pattern of economic development will be emphasized.
China will strictly control the launching of new projects this year in an effort to curb redundant investment, according to the text of the government work report that Premier Wen Jiabao delivered Friday.
DEFICIT
-- A deficit of 1.05 trillion yuan has been projected, which consists of 850 billion yuan in central government deficit and 200 billion yuan in local government bonds, which will be included in local government budgets. Full Story
LOANS
-- The total quantity of renminbi loans will be increased by approximately 7.5 trillion yuan.
EMPLOYMENT
-- The central government will allocate 43.3 billion yuan to stimulate employment;
-- Emphasis will be given to helping college graduates, rural migrant workers, people experiencing employment difficulty, and demobilized military personnel find jobs.
PROPERTY MARKET
-- The government will resolutely curb the precipitous rise of housing prices in some cities and satisfy people's basic need for housing;
-- The government will make greater efforts to deal with violations of laws and regulations such as keeping land unused, property hoarding, and price rigging.
INCOME DISTRIBUTION
-- The central government will not only make the "pie" of social wealth bigger by developing the economy, but also distribute it well on the basis of a rational income distribution system.
China to reform income distribution system, narrow income gap
Chinese Premier Wen Jiabao vowed Friday to enhance rational income distribution system as it is an "important manifestation of social fairness and justice" and a major way out for boosting domestic demand and narrowing income gap.
AGRICULTURE
-- The central government will allocate 133.5 billion yuan for direct subsidies for farmers, a year-on-year increase of 6.04 billion yuan.
China vows continuous increase in rural incomes
The central government plans to allocate 818.3 billion yuan ($119.8 billion) for agriculture, farmers, and rural areas this year, an increase of 93 billion yuan over the 2009 level.
EDUCATION
-- Education reform will be advanced in the system for operating schools, curricula, teaching methods, and evaluation systems. >>Full Story
Premier: China to continue cultural system reform
China is deepening reforms on its cultural system, such as encouraging state-owned cultural groups to convert to a stake-holding system.
SCIENCE, TECHNOLOGY
-- China will make farsighted arrangements for basic research and research in cutting-edge technologies in the fields of biology, nanoscience, quantum control, information networks, climate change, aerospace and oceanography.
SOCIAL SAFETY NET
-- China will steadily move forward with the pilot program for a new old-age insurance system for rural residents by expanding it to 23 percent of the country's counties.
China to relax hukou restrictions in small cities, towns
China will reform its household registration system and relax restrictions on permanent residence registration, or "hukou", in towns, small and medium-sized cities.
{BILLY T EXPLAINS: "hukou restrictions" prohibited farmers etc. from migrating to cites for higher incomes. (They were like serfs, tied to their land.) With last year's land reforms, they still can not sell their farms, but can lease them to others - making larger more efficient units. (More production with fewer farmers, as began in the US ~100 years ago.) With the lease income they can now move to local cities, get jobs there etc. This is win/win policy change: boosting agricultural production and making the new central and western cities grow.
China has a rational intelligent government of engineers, not self serving politicians.}
HEALTHCARE
-- China will raise government subsidies on basic medical insurance for non-working urban residents and on the new type of rural cooperative medical care system to 120 yuan per person per year, up 50 percent over last year, and appropriately increase rates for individual contributions.
FIGHTING CLIMATE CHANGE {section omitted}
NATIONAL DEFENSE {section omitted and two more}
TAIWAN
-- The mainland will continue to adhere to the principle of developing cross-Straits relations and promoting peaceful reunification of the motherland, firmly embrace the theme of peaceful development of cross-Strait relations and constantly create new conditions for it;
-- The mainland will encourage qualified enterprises to invest in Taiwan;
-- The mainland will promote a win-win situation, set up an economic cooperation mechanism that reflects the characteristics of both sides by negotiating and signing an economic cooperation framework agreement (ECFA).
China to enhance armed police's ability to fight terrorism
China will modernize its armed police force and make it better able to respond to emergencies, fight terrorism and maintain stability.
From: http://www.chinadaily.com.cn/china/2010npc/2010-03/05/content_9541766.htm
************
Despite all of the CCP's efforts to close the gap between urban and rural incomes, it is growing wider! A major reason, IMHO, is described in prior post 960. I.e. shortages of skilled workers is rapidly driving up real salaries and benefits offered in most coastal cities. See also BBC article on this important keynote speech* of Wen at: http://news.bbc.co.uk/2/hi/asia-pacific/8550930.stm
It has less detail than my post but does focus more on the effort to reverse the widening gap between urban and rural incomes. (but does not mention or understand that the new cities in the heartland and farm policy changes are designed to do just that.)
--------
* This speech, IMHO, is more important than Obama's "State of the Union" five weeks ago. It was the Chinese "State of the Union" speech. See video on it at: http://money.cnn.com/video/news/2010/03/05/n_npc_wenjiabao_china.cnnmoney/
-- China's GDP reached 33.5 trillion yuan, up 8.7 percent from a year earlier.
-- Fiscal revenue was 6.85 trillion yuan, up 11.7 percent year on year.
-- Grain production was 531 million tonnes, a new record for the sixth consecutive year.
-- 11.02 million urban job created
-- The per capita disposable income of urban residents was 17,175 yuan, up 9.8 percent in real terms,
while the net per capita income of rural residents was 5,153 yuan, rising 8.5 percent in real terms. ******See Billy T footnote comment
-- Public investment was 924.3 billion yuan, 503.8 billion yuan more than in the previous year's budget.
-- Invested 654.5 billion yuan to support the post-Wenchuan earthquake recovery and reconstruction work.
-- 725.3 billion yuan to support agriculture, rural areas and farmers, an increase of 21.8 percent.
-- A total of 20 billion yuan was provided to support 4,441 technological upgrading projects.
-- 2009 imports and exports totaled $2.2 trillion.
-- Foreign direct investment amounted to $90 billion for the entire year.
-- The central government spent 127.7 billion yuan on medical and health care, an increase of 49.5 percent.
China invested big to improve people's livelihood in '09
44 percent of the total public investment from the central budget, to improve people's livelihood last year.
Note blue text lines are links to related articles at the source, but do not copy here in this post.
MAJOR TARGETS for 2010
-- GDP will grow by about 8 percent; Full Story
-- Urban employment will increase by more than 9 million people;
-- Urban registered unemployment rate will be kept no higher than 4.6 percent;
-- Rise in the CPI will be held around 3 percent;
-- Balance of payments will be improved;
-- Sound development, and transforming the pattern of economic development will be emphasized.
China will strictly control the launching of new projects this year in an effort to curb redundant investment, according to the text of the government work report that Premier Wen Jiabao delivered Friday.
DEFICIT
-- A deficit of 1.05 trillion yuan has been projected, which consists of 850 billion yuan in central government deficit and 200 billion yuan in local government bonds, which will be included in local government budgets. Full Story
LOANS
-- The total quantity of renminbi loans will be increased by approximately 7.5 trillion yuan.
EMPLOYMENT
-- The central government will allocate 43.3 billion yuan to stimulate employment;
-- Emphasis will be given to helping college graduates, rural migrant workers, people experiencing employment difficulty, and demobilized military personnel find jobs.
PROPERTY MARKET
-- The government will resolutely curb the precipitous rise of housing prices in some cities and satisfy people's basic need for housing;
-- The government will make greater efforts to deal with violations of laws and regulations such as keeping land unused, property hoarding, and price rigging.
INCOME DISTRIBUTION
-- The central government will not only make the "pie" of social wealth bigger by developing the economy, but also distribute it well on the basis of a rational income distribution system.
China to reform income distribution system, narrow income gap
Chinese Premier Wen Jiabao vowed Friday to enhance rational income distribution system as it is an "important manifestation of social fairness and justice" and a major way out for boosting domestic demand and narrowing income gap.
AGRICULTURE
-- The central government will allocate 133.5 billion yuan for direct subsidies for farmers, a year-on-year increase of 6.04 billion yuan.
China vows continuous increase in rural incomes
The central government plans to allocate 818.3 billion yuan ($119.8 billion) for agriculture, farmers, and rural areas this year, an increase of 93 billion yuan over the 2009 level.
EDUCATION
-- Education reform will be advanced in the system for operating schools, curricula, teaching methods, and evaluation systems. >>Full Story
Premier: China to continue cultural system reform
China is deepening reforms on its cultural system, such as encouraging state-owned cultural groups to convert to a stake-holding system.
SCIENCE, TECHNOLOGY
-- China will make farsighted arrangements for basic research and research in cutting-edge technologies in the fields of biology, nanoscience, quantum control, information networks, climate change, aerospace and oceanography.
SOCIAL SAFETY NET
-- China will steadily move forward with the pilot program for a new old-age insurance system for rural residents by expanding it to 23 percent of the country's counties.
China to relax hukou restrictions in small cities, towns
China will reform its household registration system and relax restrictions on permanent residence registration, or "hukou", in towns, small and medium-sized cities.
{BILLY T EXPLAINS: "hukou restrictions" prohibited farmers etc. from migrating to cites for higher incomes. (They were like serfs, tied to their land.) With last year's land reforms, they still can not sell their farms, but can lease them to others - making larger more efficient units. (More production with fewer farmers, as began in the US ~100 years ago.) With the lease income they can now move to local cities, get jobs there etc. This is win/win policy change: boosting agricultural production and making the new central and western cities grow.
China has a rational intelligent government of engineers, not self serving politicians.}
HEALTHCARE
-- China will raise government subsidies on basic medical insurance for non-working urban residents and on the new type of rural cooperative medical care system to 120 yuan per person per year, up 50 percent over last year, and appropriately increase rates for individual contributions.
FIGHTING CLIMATE CHANGE {section omitted}
NATIONAL DEFENSE {section omitted and two more}
TAIWAN
-- The mainland will continue to adhere to the principle of developing cross-Straits relations and promoting peaceful reunification of the motherland, firmly embrace the theme of peaceful development of cross-Strait relations and constantly create new conditions for it;
-- The mainland will encourage qualified enterprises to invest in Taiwan;
-- The mainland will promote a win-win situation, set up an economic cooperation mechanism that reflects the characteristics of both sides by negotiating and signing an economic cooperation framework agreement (ECFA).
China to enhance armed police's ability to fight terrorism
China will modernize its armed police force and make it better able to respond to emergencies, fight terrorism and maintain stability.
From: http://www.chinadaily.com.cn/china/2010npc/2010-03/05/content_9541766.htm
************
Despite all of the CCP's efforts to close the gap between urban and rural incomes, it is growing wider! A major reason, IMHO, is described in prior post 960. I.e. shortages of skilled workers is rapidly driving up real salaries and benefits offered in most coastal cities. See also BBC article on this important keynote speech* of Wen at: http://news.bbc.co.uk/2/hi/asia-pacific/8550930.stm
It has less detail than my post but does focus more on the effort to reverse the widening gap between urban and rural incomes. (but does not mention or understand that the new cities in the heartland and farm policy changes are designed to do just that.)
--------
* This speech, IMHO, is more important than Obama's "State of the Union" five weeks ago. It was the Chinese "State of the Union" speech. See video on it at: http://money.cnn.com/video/news/2010/03/05/n_npc_wenjiabao_china.cnnmoney/
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