China Unveils Government Work Report: Prioritizing Quality Development and National Security

On March 5, 2024, Premier Li Qiang delivered the Government Work Report to the second session of the 14th National People's Congress. In the report, Li Qiang highlighted the country's economic achievements in 2023, including a GDP growth rate of 5.2% and the creation of 12.44 million new urban jobs. He also emphasized the government's commitment to deepening reforms, expanding opening-up, and improving the business environment.

The report outlined the government's priorities for 2024, including promoting high-quality development, improving people's livelihoods, and strengthening national security. Li Qiang stressed the need to accelerate the construction of a modernized economic system, promote technological innovation, and enhance the country's international competitiveness. The report also touched on various social and economic issues, such as education, healthcare, and environmental protection, with Li Qiang pledging to increase funding for these areas and implement policies that benefit the general public.

In addition to the domestic focus, China's defense budget is set to increase by 7.2% in 2025, reaching a total of $245.5 billion. This announcement was made as part of the Chinese government's budget report for 2025, which was reviewed by the National People's Congress. The proposed increase in defense spending is part of the country's overall budget plan, aiming to boost its military capabilities while maintaining a relatively modest share of defense spending in its overall economy. According to spokesperson Lou Qianjian, the defense budget reflects the country's commitment to national defense and security, with China's defense spending having grown at a single-digit rate for nine consecutive years since 2016.

The Government Work Report provides a comprehensive overview of the Chinese government's policies, goals, and achievements, serving as an important guideline for the country's future development. It emphasizes the need to continue promoting high-quality development, deepening reform and opening-up, and improving the quality of life for citizens. The report highlights the government's efforts to maintain stable economic growth, improve the quality of life, and promote sustainable development, with a focus on stabilizing and expanding domestic demand, promoting high-quality development in key industries, and continuing to deepen reform and opening-up. Overall, the report showcases the government's commitment to addressing various social and economic issues while ensuring national security and competitiveness.