TRANSCRIPT: China’s Premier Li Qiang Delivers Government Work Report (March 5, 2025)

CPI rose by 0.2 percent.

## A Basic Equilibrium in the Balance of Payment

Foreign trade reached a record high, and global market share of China’s exports increased steadily. Foreign exchange reserves surpassed USD 3.2 trillion.

## Steady Progress in Ensuring the People’s Well-being

Per capita disposable income grew by 5.1 percent in real terms. Achievements were made in poverty alleviation. Greater support was provided to ensure social stability.

# New Advancements Were Made in a Solid Way

## New Advancements in Industrial Upgrading

Grain output hit a new high of 700 million metric tons. The new energy vehicles have passed the 13 million mark.

## Innovative Capacity Was Further Enhanced

Chang’e No. 6 mission completed humanity’s first-ever sample collection from the far side of the moon, and Mengxiang Ocean Drilling Vessel was delivered on commission.

## New Improvements Were Made in the Ecological Environment

In cities at and above prefectural level, the average concentration of PM2.5 fell by 2.7 percent. Energy consumption per unit of GDP dropped by more than 3 percent.

## New Breakthroughs in Reform and Opening Up

We implemented the reform plans of institutional reform by developing the national markets and postponing the retirement age and other major reform measures. In manufacturing sector, foreign investment access restrictions were canceled and lifted. Trade and investment cooperation under the Belt and Road Initiative was steadily expanded and upgraded.

Our achievement in 2024 did not come easily. The adverse impact of changes in the international environment increased, and some deep-seated structural problems that had been building up in the country for years came to a head. Sluggish domestic demand was compounded by weak public expectations along with other challenges, and the difficulty in sustaining stable economic growth has increased.

However, we responded to this array of difficulties with both active and effective steps. We redoubled the policies to improve macro regulations in a timely manner. In particular, we took actions that were decided by the Political Bureau of the Central Committee at the meeting on September 26.

During this process, we deepened our understanding of the laws governing economic work and became more keenly aware that the centralized unified leadership of the Party Central Committee is essential to doing our economic work well. It is also clear that we must properly handle the relationship between an efficient market and a well-functioning government, between aggregate supply and demand, between fostering new growth drivers and upgrading old ones, between optimizing allocation of new resources and making the best use of existing ones, and between enhancing quality and expanding total output.

What we have achieved once again proves that under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core and with the dedicated efforts of our people across the country, we can prevail over any difficulty in pursuing development.

Key Work Accomplished in the Past Year

Over the past year, we continued to deepen our understanding of and apply Xi Jinping’s thoughts on socialism with Chinese characteristics for a new era, primarily held the authority of the CPC Central Committee with Comrade Xi Jinping at its core and its centralized unified leadership, followed party leadership in every aspect and throughout the process of government work, and we have mainly engaged in the following work:

# First, We Took More Robust and Innovative Measures in Conducting Macro Regulations

In light of evolving conditions and promoting economic recovery, we have strengthened countercyclical macro controls and introduced targeted measures. China’s economy saw a trend of V-shape throughout the year. We have made strong push to implement fiscal and monetary policies, and we have lowered the required reserve ratio and policy interest rate twice. We also expanded the two new projects, and we increased the support for stabilization of the housing market, and we also lowered the down payment for homebuyers. Efforts were made to repurchase loans and projects, and we have also expanded the swap of 6 trillion yuan worth of local government debt quota.

# Second, We Deepened Reform and Opening Up Comprehensively

With unwavering commitment and boosted international and internal momentum of developments, we overhauled regulations impeding the development of a unified national market. We deepened the reform of SOEs and continued to optimize the development environment of private sector, also cultivated new growth points of foreign trade. Foreign trade is now exerting a greater contribution to economic growth, and we have strengthened opening up for all the countries with diplomatic relations with China. If they are least developed countries, they will be entitled to zero tariffs if they trade with China. And we also extended the visa-free transit status to more countries.

# Third, We Made Major Efforts to Promote Innovation-Driven Development

We upgraded the industrial structure, boosted China’s strength in science and technology, rolled out major national science and technology programs across the board and improved the technology in industry. We have Beidou navigation satellite system, commercial space and the new type of energy storage. The value added of the core industries of the digital economy rose to about 10 percent of GDP.

# Fourth, We Advanced Coordinated Development Between Urban and Rural Areas

We improved the economic layout between different regions. The urban acquisition rate climbed to 67 percent. We continued our efforts to consolidate the foundations of agriculture and made important pathways in rural revitalization. A number of regional development policies and policies for integrated development were rolled out.

# Fifth, We Actively Developed Social Programs and Improved the People’s Well-being

College graduates and people out of poverty and the migrant workers, among other key population groups, have had a stable situation of employment. The scholarship program has been expanded. The student loan has lowered its interest, benefiting 34 million students. We also advanced mutual recognition of clinical test results from different medical institutions. Also, the basic pension standard has been increased. A lump sum livelihood subsidy has been issued benefiting over 11 million people. The culture market boosted our athletes who won the best results in Olympic Games in Paris.

# Sixth, We Continued to Strengthen Environmental Protection

We promoted green and low-carbon development. Major emissions of major pollutants has continued the trend of decrease. We also pushed ahead, reducing the pollution in areas of deserts and sunny lakes. And the share of electricity generated from non-fossil fuels increased, accounting for close to 40 percent of the total power generation. We also launched the National Voluntary Greenhouse Gas Emissions Reduction Trading Market.

# Seventh, We Enhanced the Government’s Performance and Innovation

We ensured social stability and harmony. We implemented the Party Central Committee’s strategic plans for conducting full and rigorous party self-governance, strictly complied with the central party leadership’s eight-point decision on improving discipline. We reduced the burden to the grassroots and enhanced our efforts in fighting against corruption.

We also submitted 19 legislative proposals to the Standing Committee of the NPC and revised 28 administrative regulations. We readily accepted oversight in compliance with the law and handled with keen attention recommendations from NPC deputies and proposals from the CPPCC. We rolled out two lists of major matters covered by one-stop government service, strengthened emergency management and seed production, and fought against criminal activities so as to ensure prosperity and social stability.

Diplomatic Achievements

In 2024, we made new advances in conducting major country diplomacy with Chinese characteristics. President Xi Jinping and other party and state leaders visited numerous countries and attended the China Summit of Shanghai Cooperation Organization, the BRICS Summit, and APEC Economic Leaders Summit. China also successfully held the Beijing Summit of the Forum on China-Africa Cooperation, among other major diplomatic events. We promoted the building of a community with a shared future for mankind and consolidated partnership across the globe. China made important contributions to peace and development in the world.

We owe our achievements in 2024 to General Secretary Xi Jinping, who is at the helm charting the course, and to the sound guidance of Xi Jinping’s thoughts on socialism with Chinese characteristics for a new era. We also owe them to the strong leadership of the Party Central Committee with Comrade Xi at its core and to the concerted efforts of the whole party, the armed forces and the Chinese people of all ethnic groups.

On behalf of the State Council, I express sincere thanks to all our people and to all other political parties, people’s organizations and public figures from all sectors of society. I express heartfelt appreciation to our fellow countrymen and women in the Hong Kong and Macau Special Administrative Regions, in Taiwan and overseas. I also express sincere thanks to the governments of other countries, international organizations and friends across the world who have shown understanding and support for us in China as we pursue modernization.

Challenges and Confidence

We are keenly aware of the problems and challenges that confront us. International environment is increasingly complex and severe and may exert a greater impact on China in areas such as trade and science and technology. Unilateralism and protectionism are on the rise. Multilateral trading system is experiencing disruption. The basis for our economic pickup is unstable. Effective demand is insufficient. Some enterprises have difficulties in production and operation. Employment and revenue increase are under pressure. Some basic level fiscal budgets are in difficulties. Some cadres have misconduct or take no actions. In some places and localities, corruption is severe.

We must confront those difficulties and problems and at the same time cement our confidence in development. China has its distinctive system advantage with large-sized market and complete industrial system and rich personnel and talent resources and other edges. The basic trend of long-term economic pickup will remain unchanged. And the giant ship of China’s economy will continue to cleave the waves and sail steadily towards the future.

Overall Requirements and Policy Orientations for Economic and Social Development in 2025

The year 2025 is the final year for implementing the Fourteenth Five-Year Plan. To deliver, we in government must, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, do the following:

• Follow the guidance of Xi Jinping’s thought on socialism with Chinese characteristics for a new era

• Fully implement the guiding principles from the 20th National Congress and the second and third plenary sessions of the 20th Party Central Committee

• Adhere to the general principle of pursuing progress while ensuring stability

• Fully and faithfully apply the new development philosophy on all fronts

• Move faster to create a new pattern of development and make solid high-quality development

• Further deepen reform comprehensively and expand high-standard opening up

• Modernize the industrial system

• Better ensure both development and security

• Implement more proactive and effective macro policies

• Boost domestic demand

• Promote integrated advancements in technological and industrial innovation

• Ensure stability in the realistic market and the stock market

• Guard against and diffuse risks in key areas and external shocks

• Stabilize expectations and boost economic vitality

• Promote sustained economic recovery and growth

• Keep improving people’s living standards

• Maintain social harmony and stability

• Fulfill the targets and tasks set in the Fourteenth Five-Year Plan to a high standard

These efforts will enable us to lay a solid foundation for a good start to the Fifteenth Five-Year Plan.

Main Targets for Development in 2025

The main targets for development this year are as follows:

• GDP growth of around 5 percent

• Surveyed urban unemployment rate of around 5.5 percent

• Over 12 million new urban jobs

• CPI increase of around 2 percent

• Growth in personal income in step with economic growth

• A basic equilibrium in the balance of payments

• Grain output of around 1.4 trillion yuan

• A drop of around 3 percent in energy consumption per capita GDP

• Continued improvements in the environment

The target of GDP growth of 5 percent fully takes into account the need to stabilize employment, prevent risk and improve people’s well-being as well as the potential for growth and conditions supporting growth. So it underscores our resolve to meet difficulties head on and strive hard to deliver.

We will make progress in a steady way and innovate while maintaining these achievements. We will improve toolkits of our policies and make dynamic readjustment in our policies in response to the conditions so that our macro control would be more farsighted, targeted and effective.

Fiscal Policy for 2025

We will implement more proactive fiscal policies. This year, the budget deficit rate is designed to be 4 percent, one percentage point higher than last year. The deficit size is 5.66 trillion yuan, 1.6 trillion more than last year. And we will also issue long-term special bonds of 1.3 trillion yuan. We designed to have 4.4 trillion yuan of local government dedicated bonds. This year, the total newly added government debt will stay at 11.86 trillion yuan, 2.9 trillion more than last year. We must accelerate the allotment of different kinds of budget so as to support the actual expenditure.

Macroeconomic Policy and Fiscal Management

We will keep optimizing the expenditure structure. The government will be frugal so that more funds will be allocated for people’s well-being. And to meet people’s needs, we will take moderately loose monetary policy. At the proper time, we will reduce the interest rate and reserve rate to ensure sufficient liquidity. The money supply increase will be aligned with our economic growth target and the price index.

We will optimize and innovate the structural monetary policies and more aggressively support the sound development of the real estate and stock markets. We will smooth away the monetary policy channels so as to further reduce the cost of social financing. We must be people-centered in our macro policies. So more economic policies will focus on benefiting the people and boosting consumption. More resources will be invested on people’s benefit and people’s livelihood.

In order to have a virtuous cycle of economic growth and livelihood improvement, we must better utilize the policy mix. We will set up evaluation work mechanism of our macro policies to improve the matching of the policy goals, tools, time points and strength and paces. We will coordinate the policy implementation and expectation management. To fulfill the targets of this year, we must implement comprehensively Xi Jinping’s thoughts on our economy and give top priority to high quality growth. And we will consistently expand domestic demand and have the supply side structural reform.

With the reform, we will mobilize the initiatives of all sides.

Three Key Government Tasks in 2025

# First: Boosting Domestic Consumption and Investment

We will vigorously boost domestic consumption and increase the efficacy of investment and comprehensively expand domestic demand. And we will practice the special initiatives to boost consumption and optimize consumption environment and unleash multifaceted and diversified potential of consumption and promote consumption upgrading. We will also issue an ultra-long special treasury bond totaling 300 billion yuan to support consumer goods trading program.

And we will also create a full range of new consumption scenarios to advance the growth of digital, green, smart, and other types of consumption. We will also introduce measures to unleash the consumption potential in culture and sports-related industries so as to create a safe and reassuring environment for consumption.

Efforts will be made to expand effective investment to better leverage the investment toolbox of government at different levels and select key projects and make the most use of our funding support and fight against ineffective investments. This year, 335 billion will be earmarked in the central government budget for investments. We will put ultra-long special treasury bonds to good use to support top-down organization and coordination to ensure great support for the major international strategies.

We will support investments from the private sector so as to create even greater space for private capital to develop new quality productive forces and accelerate the development of a modernized industrial system.

# Fostering Emerging Industries and Transforming Traditional Sectors

We will foster emerging industries and industries for the future. Strategic emerging industries will be better integrated. New technology, new products and new scenarios will be applied across the board. Biomanufacturing, quantum technology, embodied AI and 6G technology will be further cultivated.

We will promote orderly industrial developments and healthy competition and foster a number of competitive enterprises so that they can drill blaze in new fields and new trucks. We will also support the transformation of traditional industries. Efforts will be made to advance industrial foundation, reengineering a major technology and equipment research. Efforts will be made to optimize the transformation of traditional industry. We will foster some popular brands, quality products and renowned traditional industries.

We will unleash the creativity of the digital economy. The AI plus initiative will be further advanced. We will develop smart IoT and new energy based vehicles, computers and 5G and the next generation of smart terminals. 5G technology will be applied in large scale. The innovation-driven developments will be accelerated, and we will also standardize the development of platform economy.

# Third: Science, Technology and Education

We will implement the strategy of invigorating China through science and technology and boost the overall performance of China’s innovation system. We will build a high-quality education system. The three-year action plan for strengthening education will be drawn up and implemented. The standard system will be rolled out for compulsory education and expand the offering of higher education services and rollout free of charge preschool education. We will also strengthen the construction of double first standard universities.

Efforts will also be made to enhance the morality of teachers and to deepen the reform of education. We will accelerate the pace of transformation from a big country in education into a strong education power.

We will improve self-reliance and strength in science and technology. Efforts will be made to plan some major scientific innovation and breakthroughs, and we will support the reform and institutional restructuring of scientific research institutions. From a system perspective, we will ensure that enterprises can get involved in major national scientific programs.

Efforts will be made to facilitate commercialization of technologies and boost popular science initiatives. We will publicize and spread the spirit of scientific practitioners and build an environment that empowers innovation. And we will enhance the overall caliber of talents, and efforts will be made to cultivate the talent pool, and we will be bold enough to allow young talents to play a bigger role. The talent certification system will be rolled out to incentivize the vast amount of talents.

Fourth: Economic Structural Reform

We will accelerate the implementation of landmark reform measures and better leverage the leading role of economic structural reform.

We’ll make effective moves to assimilate the vitality of market entities, and we will remain unspokenly committed to promoting SOEs in the private sector. We remain deeply committed to rolling out a number of policies to support the private sector. And wage arrears will be resolved. Special activity will be taken to enhance the enforcement of laws, and the government will follow the approach of service so as to bring warmth to enterprises. And we will also make thorough efforts to develop a unified national market.

Efforts will be made to fight against risk competition, and we will implement a negative list so as to improve the access for new forms of business and new sectors. Policies will be introduced to improve the social credit system and develop an integrated credit repair system. Will also work faster to develop a unified and open transportation market and launch an initiative to cut logistic costs across society.

Reforms will be conducted in the fiscal taxation and financial systems. Faster moves will be taken to collect excess tax on some items further down the production to consumption chain with the power of taxing being passed to local governments.

The capital markets, investments and financing activities will be refined, and we will also improve the standards and foundational institutions for technology finance and green finance.

Fifth: Opening Up and International Trade

We will extend higher standard opening up and stabilize foreign trade and investment. We will work for stable development of foreign trade and optimize the financial services involving investments, financing settlements and foreign exchanges and expand the scale and coverage of the export credit insurance and provide support to enterprises in cross-border e-commerce. We will support the integrated development of domestic and foreign trade and work faster to address unified developments of both domestic trade and international trade. And we will cultivate new growth drivers such as digital trade and green trade, among others.

We will vigorously encourage foreign investments. Efforts will be made to deepen the openness of the service sector and other open sectors such as telecommunications, medical services and education. We will ensure national treatments for foreign-funded enterprises in fields such as production factors. Efforts will be made to build a market-based legal and standard business environment so as to facilitate the development of foreign-founded enterprises.

We will promote solid and steady progress in high-quality development of BRI initiative. We will coordinate to fit it to some small but beautiful livelihood improvement projects. In terms of legal, financial and logistics services, we will encourage comprehensive services overseas to optimize the international cooperation landscape in the industrial chain and supply chains, deepen bilateral and multilateral and regional economic cooperation. We will continuously expand the free trade network globally and we will safeguard the multilateral trade mechanism with the WTO as its core so as to further expand the convergence of interest for common development.

Sixth: Risk Prevention and Management

We will effectively prevent and diffuse risks in key areas and ensure that no systemic risks arise. We will make continued efforts to stem the downturn and the resource stability in the real estate market.

We will increase the land supply for real estate markets, revitalize the reserve land and commercial houses. We will prevent any default risk in the real estate developers. We will effectively and orderly establish relevant institutional designs to speed up the new model design for the real estate market. We will try to build safe, comfortable, green and intelligent houses, take steady measures to diffuse local government debt risks.

We will improve and implement the whole basket debt diffusion plan, optimize the performance evaluation and control measures to readjust the highly risky areas with high debt. We will also try to curb any illegal behaviors in issuing bonds or debt. We will take active measures to prevent financial risk. We will try to support local areas to make transformations. And we will also take measures like market withdrawal to diffuse the risk.

We will improve the regulation system, encourage the coordination between central government and local government regulations. We will do our best to make a plan to deal with the external risk and shocks to safeguard financial stability and safety.

Seventh: Rural Revitalization and Agriculture

We will make every effort to deliver work relating to agricultural rural areas and rural residents and take solid steps to advance all-around rural revitalization. We will work on quality improvement and improvement of the areas of arable land. We will take high-quality measures to build up the high standard farmland. We will speed up the agriculture equipment and machines R&D process and disseminate the agriculture scientific and technological results on a large scale.

All localities must hold themselves accountable for food security. We will keep working to consolidate and build on our achievements in poverty alleviation. By improving the efficacy of monitoring and assistance, will build on the progress achieved to ensure that people are lifted out of poverty to prevent any relapse into or occurrence of poverty. Greater follow-up support will be given to relocate it from inhospitable areas and tailored assistance be provided to improve the performance of local industries. We will also ramp up employment support and expand the scope of work relief policies.

We will take categorized measures to offer more assistance for those people while consolidating the results of poverty alleviation and revitalizing the villages. We will solidly promote the rural areas reform and development. And we will extend the rural land contracts by another thirty years upon the expiration of the current second round contracts and scale up province-wide trials of this purpose. We will expand the channels of revenue making of the farmers, and we will try to take customized measures to build livable and harmonious and beautiful villages.

Eighth: Urbanization and Regional Development

We will advance new urbanization and coordinated regional development and further improve the spatial layout of development. We will advance strategic initiatives for new urbanization.

We will take well-conceived and systemic measures to ground permanent urban residency to people moving to cities from rural areas. We will ensure that they have full access to basic public services in their place of permanent residence and will intensify support to see that children living with them receive compulsory education in cities. And they will also be eligible to join the housing support system, and they will have smooth access to social security channels. We will also support the old household restoration to build up livable, resilient and smart cities.

We will make more efforts to implement measures in regions. We will actively cultivate new growth points to magnify the effect in the main functional areas. We will also encourage other areas to take customized measures to grow themselves. In eastern, western and central areas, we will encourage industrial coordination.

Ninth: Green Development and Environmental Protection

We will take coordinated efforts to cut carbon emissions, reduce pollution, pursue green development and boost economic growth and accelerate green transition. We will enhance pollution prevention and control and ecological conservation.

We will continue our drive to keep the sky blue, water clean, clear and glass clean. We will formulate an action plan for the comprehensive treatment of the solid waste, better coordinate the treatment of new pollutants and strengthen control of environmental risk. We will actively promote the pilot projects of Beautiful China to keep meeting people’s aspiration for better ecological environment.

We will accelerate the development of green and low-carbon development. We will implement the green low-carbon technologies projects and cultivate new growth points such as green architecture. We will cut off those heavily polluting projects effectively, strengthen the utilization and recycling of the waste so as to encourage the formulation of green and low-carbon production methods and lifestyle.

We will take steady measures to hit the decarbonization target. We will set up a batch of zero-carbon parts and factories. We will have a carbon emissions accounting and statistics and set up the carbon footprint management system, carbon labels certification system. We will also set up some new energy bases in the Gobi Desert and encourage the pilot projects to be implemented in pursuing low-carbon development. Will also take active measures to lead the climate governance.

Tenth: Social Governance and People’s Livelihood

We will extend our efforts in security and people’s livelihood to improve social governance efficacy. We will take more measures to stabilize and expand employment. We support the labor-intensive industries to create more jobs and stabilize the job opportunities. We will coordinate between the new technology application and the job opportunity transitions and create new opportunities.

We will extend the channels of job creation for the new graduates. We will also take measures to protect the laborers’ legitimate rights and interests and offer more training opportunities for the workers. So those who contribute more could be better paid and those who innovate could have a higher earnings.

We will strengthen basic health care services. We will promote the public hospital reform and improve the remuneration system. We will optimize the collective procurement of drugs and enhance the supervision of the drugs so the patients could have a safer medical service. We will also support the pricing mechanism reforms to support the development of innovative drugs. We will improve the mechanism for TEM drugs innovation. We’ll strengthen regulation over medical funds so as to ensure that each and every penny is used to improve the benefits of the people. We’ll also improve social welfare and social support.

Government Support for the Elderly and Families

The minimum standard of basic pension will be increased by another JPY twenty and retirees will have their pension increased. Social support will be rolled out for home-based elderly care. We will vigorously support the elderly care with dining support and rehabilitation tools. Childbirth support policies will be enhanced. Monthly subsidies will be rolled out.

A satisfied social security and support system will be introduced to ensure the basic livelihood of people living in poverty. We’ll promote cultural ethical advancements. Important efforts will be made to enhance socialist values and moralities. Broadcast, movie and documentary related work will be further improved. We’ll also disseminate fine cultural resources to the grassroots and improve the cultural industry and market system and also support the construction of cultural facilities and launch a population-wide fitness campaign.

And health intervention will be strengthened for the juvenile and the youth so that the youth can truly improve their level of health.

National Security and Social Stability

We will also safeguard national security and social stability. The overall national security concept will be implemented across the board. Biosecurity concepts will be further implemented. The three-year action plan for safe production will be deepened and safe campus food will be introduced.

We will also improve public legal services and make it more affordable and accessible and build a higher level of peaceful China initiative.

Planning for the Future

We will begin formulating the fifteenth five-year plan this year. We should make an in-depth analysis of new plans by considering major strategic tasks, policies, measures and projects so that the plan will serve as an effective guide for China’s economic and social development.

New challenges and tasks call for better performance from the government. All of us in government at every level should acquire a deep understanding of the two establishes, reinforce four consciousnesses and four confidences and align ourselves to the CPC Central Committee with Comrade Xi at its core, both in terms of ideology and thinking and take the initiative to shoulder up the responsibility of a strict party building and follow through the eight-point discipline requirement and regulation of the CPC Central Committee.

We will continue with the fight against corruption and constantly improve the capabilities of discharging our duties as government officials. We will intensify efforts to build a law-based government and perform our duties in strict accordance with the constitution and the law and accept the supervision of the NPC and CPPCC at the relevant levels and take the supervision from the society and the media. Government officials must practice integrity, abide by the law and handle affairs in accordance with the law. So to ensure that the power entrusted upon us by the party and the people is used to serve the people.

We will make our handling of government affairs more effective, and we will adopt a realistic and pragmatic approach to solve problems. And investigations and checks over the work of the grassroots will be further reduced so as to make them more available to handle issues that are concerned by the general public and government officials must be down to earth and create remarkable achievements that can stand the test of the history and people.

Ethnic Unity and National Rejuvenation

We will foster a strong sense of community for the Chinese nation, uphold and improve the system of regional ethnic autonomy and promote solidarity and progress amongst different ethnic groups and also speed up the modernization drive in areas with large ethnic minority populations.

We will mobilize strength from all corners to advance the national rejuvenation. We will follow through Xi Jinping’s thoughts on strengthening the military and follow the absolute leadership of the party over the people’s armed forces and also follow the system of armament responsibility resting with the Chairman of the Central Military Commission and be prepared from a military perspective so as to safeguard China’s national interest and security.

We will step up military training and combat readiness and different levels of military must reinforce their preparedness to safeguard China’s sovereignty and overall solidarity.

Hong Kong, Macau, and Taiwan

We will comprehensively and accurately follow through the policy of “one country, two systems,” and which the people of Hong Kong administer Hong Kong and the people of Macau administer Macau, both with a high degree of autonomy. We will support Hong Kong and Macau in growing their economies, improving their lives and allow patriots in Hong Kong and Macau to govern themselves and support them to better integrate into the overall development of the mainland and maintain long-term prosperity and stability of Hong Kong and Macau.

Will implement party’s overall policy for the new era on resolving the Taiwan question. We will stay committed to the one China principle and the 1992 consensus and resolutely oppose separatist activities aimed at Taiwan independence and external interference so as to promote the peaceful development of cross-strait relations. We will promote economic and cultural exchanges across the Taiwan Strait and advance integrated cross-strait developments and improve the well-being of China’s people on both sides so as to realize the great cause of rejuvenation of the Chinese nation.

International Relations

We will stay committed to an independent foreign policy of peace and travel a path of peaceful development. We will remain firm in pursuing a mutually beneficial strategy of opening up.

China is ready to work with the international community to promote the global development initiative, the global security initiative and the global civilization initiative and promote the building of a community with a shared future for mankind.

[LI QIANG:] Dear deputies, let us rally more closely with our strength and work hard to create glorious achievements. And let us unite firmly under the CPC Central Committee with Comrade Xi Jinping at its core, hold high the great banner of socialism with Chinese characteristics and follow the guidance of Xi Jinping’s thoughts on socialism with Chinese characteristics for a new era. Let us meet difficulties head on and move forward ahead with resolve to accomplish this year’s objectives and tasks for economic and social development and bring the Fourteenth five-year plan to a successful conclusion. And let us strive to build a great country and advance national rejuvenation on all fronts through Chinese modernization.

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