REPORT ON THE IMPLEMENTATION OF THE 2021 PLAN FOR NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT AND ON THE 2022 DRAFT PLAN FOR NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT文章源自英文巴士-https://www.en84.com/13093.html
Delivered at the Fifth Session of the 13th National People’s Congress on March 5, 2022文章源自英文巴士-https://www.en84.com/13093.html
National Development and Reform Commission文章源自英文巴士-https://www.en84.com/13093.html
The National Development and Reform Commission has been entrusted by the State Council to deliver this report on the implementation of the 2021 plan and on the 2022 draft plan for national economic and social development to the Fifth Session of the 13th National People’s Congress (NPC) for its deliberation and approval. The Commission also invites comments from members of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC).
I. Implementation of the 2021 Plan for National Economic and Social Development
The year 2021 was a milestone in the history of both the Communist Party of China (CPC) and our country, and it is a year that will be remembered by history. Our country held a grand celebration of the centenary of the CPC, won the critical battle against poverty on schedule, officially declared success in achieving the first centenary goal of building a moderately prosperous society in all respects, and embarked on the new journey toward the second centenary goal of building China into a modern socialist country in all respects. At the Sixth Plenary Session of the 19th CPC Central Committee, our Party reviewed its major achievements and historical experience over the past century and adopted the third historical resolution in its 100-year-long history.
Under the firm leadership of the CPC Central Committee with Comrade Xi Jinping at its core, all regions and departments consistently followed the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implemented the guiding principles from the 19th CPC National Congress and the plenary sessions of the 19th CPC Central Committee, and carried forward the great founding spirit of the Party. In accordance with the decisions and plans of the CPC Central Committee and the State Council, we faithfully implemented the Report on the Work of the Government, the Outline of the 14th Five-Year Plan for Economic and Social Development (2021-2025) and Long-Range Objectives through the Year 2035, and the 2021 Plan for National Economic and Social Development, which were approved at the Fourth Session of the 13th NPC, and we adopted the NPC Financial and Economic Affairs Committee’s suggestions based on its review of the 2021 Plan.
We applied the new development philosophy in full, in the right way, and in all fields of endeavor, took solid steps to ensure stability on the six key fronts and security in the six key areas, and made cross- and counter-cyclical adjustments with macro policy. In these ways, we effectively dealt with all risks and challenges that arose, took fresh strides toward forging a new pattern of development, and made new achievements in high-quality growth. We coordinated our Covid-19 response with economic and social development, accomplished our main targets and tasks for the year, got the 14th Five-Year Plan off to a good start, and once again secured new and major achievements in our country’s development.
1. We strengthened our guard against inbound cases and domestic resurgences and conducted routine Covid-19 prevention and control in an orderly and effective manner.
Putting the people and human life above all else, we adhered to targeted measures along all steps of epidemic prevention and control and upheld the “dynamic zero-case” policy, thus maintaining China’s world-leading position in Covid-19 control.
1) Targeted, effective, and differentiated response measures were applied according to local conditions.
With strict response measures for people, goods, and environments, we strengthened our public health capacity for epidemic prevention, control, and treatment, curbed the spread of Covid-19 through points of entry to the greatest extent possible, and handled local outbreaks in a timely and effective manner. Multiple measures were adopted to promote production, increase supply, strengthen monitoring, and facilitate logistics to ensure abundant supply and stable prices of daily necessities in epidemic-affected regions, thus safeguarding people’s safety and health and maintaining normal order in work and life.
2) Vaccinations and pharmaceutical research and development were steadily promoted.
We made every effort to guarantee the production and supply of Covid-19 vaccines and to make them more adaptable to different variants, with total national production surpassing 5 billion doses by the end of 2021. We vaccinated our people in stages according to age and region, with a total of 2.84 billion doses administered and over 1.2 billion people, or over 85% of the population, fully vaccinated. The first medication for treating Covid-19 developed by our country was approved for market launch.
3) Remarkable progress was made in international cooperation to fight the pandemic.
We actively shared our samples, data, and response measures related to Covid-19. With over 2 billion doses sent to more than 120 countries and international organizations in 2021, China became the world’s largest international provider of Covid-19 vaccines. We participated in and supported COVAX and improved vaccine accessibility and affordability in developing countries, where the majority of Covid-19 vaccines acquired so far have come from China.
2. We improved and made innovations in macro regulation and reinforced the fundamentals of the economy.
We sped up the establishment of a new development pattern, strengthened cross-cyclical macro policy adjustment, ensured supply and price stability, and made greater efforts to ease the difficulties of enterprises. We simultaneously achieved relatively high economic growth and low inflation, and our economy maintained fairly strong positioning for growth.
1) China continued to lead major economies in terms of economic growth.
Preliminary assessments indicate that China’s GDP reached 114.37 trillion yuan in 2021 for year-on-year growth of 8.1%. China remained a major contributor to global economic recovery and growth, and its share in the world economy continued to increase. China’s per capita GDP surpassed 12,000 US dollars, exceeding the global average. A total of 12.69 million urban jobs were created nationwide and the average year-end surveyed urban unemployment rate was 5.1%. The consumer price index (CPI) rose by 0.9%. A basic equilibrium was maintained with regard to the balance of payments, and year-end foreign exchange reserves remained at over 3.2 trillion US dollars.
2) Our macro policy was consistent and targeted.
We adapted our macro policy when cross-cyclical adjustment was needed and sustained the level of support necessary for economic recovery. We also took into account the need to leave ample policy space for meeting difficulties and challenges this year. We enhanced the quality, efficacy, and sustainability of our proactive fiscal policy. We maintained the scale of necessary government expenditures, improved the issuance, use, and management of local government special-purpose bonds, and made it a normal practice to directly allocate budgetary funds to prefecture- and county-level governments, allocating 2.8 trillion yuan in central government funds under this mechanism. These steps allowed us to provide timely financial support to guarantee local governments’ ability to meet basic living needs, pay salaries, and maintain normal government functions. Through tax and fee cuts, we reduced market entities’ burdens by more than 1 trillion yuan over the year. Tax payments were postponed for micro, small, and medium enterprises (MSMEs) in the manufacturing sector as well as for coal-fired power plants and heating-supply enterprises.
We maintained a flexible, precise, and appropriate monetary policy. We flexibly leveraged various policy instruments, such as reducing the deposit reserve ratio, relending, and re-discounting, and we lowered the required reserve ratio twice, maintaining proper and adequate liquidity. M2 money supply and aggregate financing increased by 9% and 10.3% respectively. We provided greater support to the real economy, key sectors, and areas of weakness and saw a steady drop in overall business financing costs. New RMB loans for the year reached 19.95 trillion yuan, 315 billion yuan more than in 2020. Inclusive finance lending by large commercial banks to micro and small enterprises (MSEs) increased by more than 40%. The average interest rate on business loans was 4.61%, 0.1 percentage points lower than in the previous year.
We stepped up the implementation of policies on stabilizing and expanding employment, took solid measures to ensure employment for key groups like college graduates, and promoted entrepreneurship and innovation.