China targets an economic growth rate of around 5 percent in 2025, according to a government work report submitted Wednesday to the national legislature for deliberation.
Senior Chinese leaders on Wednesday attended deliberations at the third session of the 14th National People's Congress (NPC), the national legislature.
China will establish a national venture capital guidance fund to bolster the development of innovative enterprises, the country's top economic regulator said on Thursday, as the country looks to foster new quality productive forces and pursue innovation-driven growth.
China will step up efforts to facilitate financing for private enterprises and micro and small enterprises, Li Yunze, head of the National Financial Regulatory Administration, said Wednesday.
China has sufficient fiscal policy tools and ample flexibility to effectively respond to potential domestic and external uncertainties, Minister of Finance Lan Fo'an said at a news conference on Thursday.
China's central bank will cut the reserve requirement ratio and interest rates at an appropriate time this year based on domestic and global economic and financial conditions while creating new tools to support technological innovation, said Pan Gongsheng, governor of the People's Bank of China.
Premier Li Qiang delivered the Government Work Report at the opening of the third session of the 14th National People's Congress in Beijing on Wednesday. Here are some highlights from the report.