Roadmap to recovery

In his 35-page work report, Wen outlined a massive package plan, which included huge government investment, tax reform, industrial restructuring, scientific innovation, social welfare and promoting employment.

The measures included a 4-trillion-yuan (585.5 billion U.S.dollars) tow-year investment plan, for which the central government has pledged 1.18 trillion.

Wen said the country would implement a proactive fiscal policy and a moderately easy monetary policy. The government will increase its spending and expect banks to issue five trillion yuan in new loans.

The government would also actively boost domestic demand, continue to proceed with the economic restructuring and independent innovation, and accelerate the transformation of the development pattern, according to the Premier.

It should be noted that the country aimed to press forward the industrial restructuring at the same time to maintain growth, and also emphasized technological innovation, energy conservation and environment protection, targeting long-term and sustainable growth.

Wen said the country would also increase spending on agriculture to boost grain output and farmers' income, spend more on such social programs as medicare reform, social security, pension and education to improve people's livelihood, and also make arduous efforts to promote export amid declining overseas demand and rising protectionism.

In addition, the country would continue to deepen reforms and opening up to improve the mechanism for a scientific development, Wen said.

Reforms of pricing of resource products, of taxation, of financial system, of state-owned enterprises and non-public sectors, of administration of local governments would continue to be carried out, according to Wen.