[Image courtesy of www.news.cn]
On Monday, China opened the Fifth Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing.
Nearly 3,000 NPC deputies from across the country attended the opening meeting together with top Party and state leaders.
Chinese Premier Wen Jiabao delivered a government work report at the opening meeting covering major targets for 2012, fiscal and monetary policies, price control, agriculture, economic restructuring, nuclear power, marine development, people's wellbeing, spending on education, cultural development, etc.
• Major targets set for 2012 included GDP growth of 7.5%, the creation of nine million new jobs in towns
and cities, growth of the volume of total exports and imports by about 10%, etc.
• The broad money supply is projected to increase by 14%.
• RMB 1.23 trillion will be allocated for agriculture, rural areas, and farmers, RMB 186.8 billion more
than last year.
• China will formulate and implement a strategy for marine development.
• Spending on education will account for 4% of GDP.
• The government will complete five million units of low-income housing and start construction on more
than seven million units.
Please click here to read further highlights of the government work report and here for additional media coverage.