The Chinese economy has not yet returned to a high growth trajectory and the country will strive to keep its economic performance within a reasonable range for the whole year, a senior official at the Council’s Research Office said on Friday. State affairs.
Sun Guojun, a member of the board of the ruling Party members group, said the economy is still not in full recovery mode and the government needs to work hard to maintain economic stability this year.
“Setting the GDP growth target at over 6% this year is due to multiple considerations such as the low base in 2020,” said Sun, who helped draft the government activity report. , during a press briefing in Beijing.
Sun said China will prioritize high-quality development this year and focus on economic growth, jobs, prices, income and environmental protection. added.
âThis year marks the start of China’s 14th Five-Year Plan (2021-25), which is of particular significance in the country’s modernization process,â said Tang Jianwei, chief researcher at the Financial Research Center of Bank of Communications. . “Amid the growing risks and uncertainties, getting off to a good start is extremely important.”
Compared to the key tasks outlined in 2020, this year the government has placed greater emphasis on areas such as innovation, technology, finance, agriculture, rural areas and green development, which is in line with to China’s transition from a model of rapid growth to a new stage. high-quality development, Tang said.
“In the future, the government will move from simply defining quantitative economic indicators to the pursuit of better, more efficient, fairer and more sustainable development,” he added.
China has not set a quantitative target for overall reductions in taxes and fees this year. Instead, the government has focused on optimizing and implementing policies. For example, it has put in place specific policies to reduce taxes and fees for micro and small enterprises and introduced tax incentives to encourage private sector participation in research and development.
In the future, the government will also make a great effort to reduce the basic production and operating costs of businesses, including the costs of electricity, internet access and logistics. More efforts will also be made to improve the management of untaxed income and end arbitrary charges and fines, Sun said.
To achieve economic stability, he suggested that the government use political tools to deepen reforms on all fronts, and optimize and adjust relevant fiscal, monetary and employment policies.
“On the one hand, we need to keep pushing forward some current supportive measures and institutional arrangements to create a more conducive environment. On the other hand, some temporary measures will be phased out,” Sun said.
The specific timelines for eliminating certain temporary measures depend on several factors, including the state of the economic recovery, Sun added.