China meets, exceeds 17 targets set in 2020 government work report

Seventeen targets set in the Report on the Work of the Government 2020 were all met by the end of 2020, with many even exceeded, China’s gov.cn said on March 2.

Last year, China created 11.86 million new urban jobs, exceeding the goal of 9 million set in the government work report. The surveyed urban unemployment rate averaged 5.6 percent, outperforming the goal of 6 percent.

Last year, China’s CPI increased by 2.5 percent year-on-year, compared with the target of around 3.5 percent set in the government work report.

Last year, the country cut the rates for corporate broadband and dedicated internet access services by 31.7 and 18.6 percent respectively, compared with the goal of 15 percent for both.

In 2020, China’s deficit-to-GDP ratio increased from 2.8 percent to above 3.6 percent year-on-year, meeting the goal of more than 3.6 percent.

Last year, large commercial banks accomplished the goal of increasing inclusive finance lending to micro and small businesses by more than 40 percent.

The country planned to provide more than 35 million vocational skill training opportunities in 2020 and 2021. In 2020 alone, over 27 million people took part in training funded by government subsidies and over 22 million people partook in work-based training.

Source: People’s Daily Online