Two Sessions Explainer: Highlights of 2023 Government Work Report

All eyes are on the Government Work Report delivered by Premier Li Keqiang at the opening of the first session of the 14th National People's Congress in Beijing on March 5.

Here are some key points:

China aims to expand its economy by around 5 percent in 2023.

It targets inflation rate, or increase in consumer price index (CPI), of around 3 percent.

China's deficit-to-GDP ratio is projected at 3 percent.

Meanwhile, it aims to create around 12 million urban jobs in 2023 and targets a surveyed urban unemployment rate of around 5.5 percent.

China aims to keep its grain output over 650 million tonnes in 2023, and boost rural revitalization.

The country will expand domestic demand. Priority will be given to the recovery and expansion of consumption, and incomes of urban and rural residents will be boosted through multiple channels, said the report.

It will intensify efforts to attract and utilize foreign investment.

It will expand market access, continue to open up the modern services sector, ensure national treatment for foreign-funded companies, improve services for foreign-funded companies and facilitate the launch of landmark foreign-funded projects.

According to the work report, China will continue transition to green development.

On diplomacy, China stands ready to work with the international community to put into action the Global Development Initiative and the Global Security Initiative.

For the latest on this year's Two Sessions, stay tuned on People's Daily Online.