Highlights of 2020 Government Work Report

Premier Li Keqiang delivered the Government Work Report to the third session of the 13th National People's Congress in Beijing on Friday morning. Here are the highlights:

Main targets for 2020

- China will work to ensure achieving the development goals of winning the battle against poverty and completing the building of a moderately prosperous society in all respects this year, though setting no specific economic growth target for 2020.

- China will prioritize stabilizing employment and ensuring people's livelihood this year, aiming to create more than 9 million new urban jobs.

- China has set its consumer inflation target at around 3.5 percent for the year of 2020.

- China will ensure the elimination of poverty among all rural residents living below the current poverty line and in all poor counties this year.

- China's deficit-to-GDP ratio this year is projected at more than 3.6 percent. The ratio was 0.8 percentage points higher than that of last year. The deficit increase is projected at 1 trillion yuan (about $141.6 billion) over last year.

-China will pursue a prudent monetary policy in a more flexible and appropriate way.