The annual session of the National People's Congress is set to begin on Thursday. According the spokesman for the session, Li Zhaoxing, dealing with the global economic downturn and creating jobs will be high on the agenda. He also says measures will be enacted to prevent inefficient investment of the stimulus funds.
Li Zhaoxing said at Wednesday press conference that the discussions at the annual session will focus on a stimulus package of 4 trillion yuan. This money will be used to boost the economy in the following two years. He says the state has measures in place to prevent duplicate construction and inefficient investment from the funds.
Li Zhaoxing said, "First, we will focus on the high priority projects and determine the destination of investment on a scientific basis; Second, we will tighten scrutiny and select the best projects according to a dual procedure. Third, we will strengthen inspection and supervision. This will ensure effective and proper use of the investment and avoid duplicate construction and inefficient use of funds."
Li Zhaoxing said deputies will also discuss job creation and training programs. Also on the agenda will be favorable policies to encourage migrant workers and new college graduates to start their own businesses.
He said China will adhere to an active fiscal policy in 2009 and maintain steady and relatively fast economic growth.
The spokesman said the government will promote tax reforms and structural tax reductions to ease tax burdens for firms and residents. The move is to encourage firms to invest and residents to consume.
The government will also work to increase the income of low-income families to spur consumer spending.
Li Zhaoxing said the government will pour more money into projects that can improve people's livelihood. These include increasing subsidizes for farmers, and agricultural production in rural areas.
(CCTV March 5, 2009)
