Premier has full confidence in China’s economic outlook

Chinese Premier Li Qiang meets the press after the closing of the first session of the 14th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2023. (PHOTO / XINHUA)

BEIJING – Chinese Premier Li Qiang on Monday voiced full confidence in the prospects of the country's economy, saying that it will sail toward a bright future while stressing a people-centric development philosophy. 

Meeting the press in Beijing after the closing of the first session of the 14th National People's Congress on Monday, he said China will keep to the direction of socialist market economic reform, promote higher-level opening up and inject stronger vitality into development by deepening reform and opening up.  

The premier said achieving the 2023 gross domestic product (GDP) growth target of around 5 percent on the current high base of China's economic output was not an easy task and required redoubled efforts. 

Premier Li Qiang said China will keep to the direction of socialist market economic reform, promote higher-level opening up and inject stronger vitality into development by deepening reform and opening up

Li cited institutional strength as one of the pillars of China's economic development and said private enterprises in China will enjoy better environment and broader space for development.

"We will create a level playing field for all kinds of business entities and further support private enterprises in growing and thriving," Li said. China's huge market, complete industrial system, rich supply of human resources, solid development foundation, and institutional strength have been supporting the country's development, Li said.

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China's food security is well guaranteed on the whole and China will make sure that the rice bowl of the 1.4 billion Chinese people will always be firmly held in their own hands, the premier said.

He said the Hong Kong and Macao special administrative regions will enjoy an even brighter future with the full support from the central government. 

"The ultimate aim of the work of the Party and the government is to improve the well-being of the people," said Li at the press conference, vowing to make solid efforts on every piece of work concerning the people's livelihood.

Most people do not keep their eyes on GDP growth all the time. What they care more about are the things that happen in the everyday life like housing, employment, income, education, medical services, and environment, Li said. "Therefore, the government must always plan and carry out its work in light of what the people feel and act according to the people's aspirations." 

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Chinese Premier Li Qiang meets the press after the closing of the first session of the 14th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2023. Vice-premiers Ding Xuexiang, He Lifeng, Zhang Guoqing and Liu Guozhong also attended the press conference. (PHOTO / XINHUA)

Noting how a rich supply of human resources remained China's notable strength, Premier Li said China will continue to pursue an employment-first strategy and increase government support to boost employment.

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China will deepen reform of the rural sector to provide drivers for rural revitalization, he said. 

Noting how a rich supply of human resources remained China's notable strength, Premier Li said China will continue to pursue an employment-first strategy and increase government support to boost employment

He said China's COVID-19 response strategies and measures were completely right and had delivered highly effective outcomes. 

It took less than two months for China, a highly populous country, to achieve a smooth transition in COVID-19 response and resume normal economic and social order, which is indeed remarkable, Li said at the press conference. 

Noting that there are still risks of virus transmission, Li said China will continue to follow the evolving epidemic situation and build up its capacity for early warning and forecast.

The early restoration of normal exchanges and regular cooperation between the two sides of the Taiwan Straits is a shared aspiration and requires joint efforts of both sides, said Premier Li Qiang on Monday.

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Li said China and the United States can and must cooperate, and there are a lot that the two countries can achieve by working together.