A business review of Premier Li Keqiang’s government work report
The Chinese economy is facing tough challenges. Maintaining a relatively high growth rate while pushing for a consumption and services-led transition won’t be easy. But as President Xi has pointed out, China’s basic economic fundamentals have not changed, China’s commitment to reform and opening up remained intact, and the Chinese government still has many tools and resources to offset the downside risks. The government’s action plans for 2016 and the 13th Five-Year Plan period give us full confidence that the Chinese economy is on a path of a more sustainable and healthy growth.
The Report on the Work of the Government (hereafter referred as the Report), delivered by Premier Li Keqiang to the Fourth Session of the 12th National People’s Congress on 5 March 2016, provides a glimpse of:
- what had happened in China over the past year;
- what the government plans to do in 2016 to shore up the economy; and
- the key tasks for the 13th Five Year Plan (2016-2020).
This article provides an analysis on the Report, specifically on the significance and implications of the eight key tasks and the supporting measures for 2016.