2018年CRI China sets robust economic growth with high quality

 

Chinese leaders have set their annual economic growth targets, as well as plans for the development of high-tech¹ to start out this year's NPC legislative² session.

Addressing the opening of the National People's Congress on Monday, Chinese Premier³ Li Keqiang has suggested China has achieved sustainable growth amid domestic downward pressure and a world economic recovery the Chinese government sees as "anemic" in the past few years.

"Over the past five years, economic strength has reached a new high. China's gross domestic product has risen from 54 trillion to 82.7 trillion yuan, registering average annual growth of 7.1 percent; and its share in the global economy has grown to roughly 15 percent, up from 11.4 percent. China's contribution to global growth has exceeded 30 percent. More than 66 million new urban jobs have been added, and our country, with its population of over 1.3 billion, has achieved relatively⁴ full employment." 

While delivering the annual government work report, Li Keqiang has announced a target for economic growth this year at around 6.5 percent.

This is the same initial target set by the government last year, which was exceeded.

Senior officials are suggesting the projected growth rate reflects a priority on not over-emphasizing the pace of economic growth, but rather the improvements in the quality of development.

The report does say the Chinese government expects a continued recovery of the global economy, but also notes policy changes in major economies and their spillover effects could create uncertainty⁵.

It also notes that mounting protectionism also adds to the risk factors.

Li Keqiang says that despite these challenges, the Chinese government expects to maintain sustainable, high quality growth.

"In fact it's always been the case that China's achievements in development have been made whilst overcoming difficulties. Today, China's material and technological⁶ foundations are much stronger; its industrial system is complete, its market is vast, its human resources are abundant, and its entrepreneurs and innovators are dynamic. We enjoy composite advantages, and all this means that we have the ability and the conditions to achieve higher quality, more efficient, fairer, and more sustainable development."

To help maintain growth, the Chinese government has been nurturing⁷ entrepreneurship and businesses growth by adjusting the tax system.

This includes the replacement⁸ of the business tax with value added tax to all sectors⁹ of the economy. 

This has led to an overall tax savings¹¹ in China of some 2 trillion yuan.

At the same time, Li Keqiang has announced plans to cut taxes for businesses and individuals by more than 800 billion yuan, or about 125 billion U.S. dollars, this year.

"China will prioritize lowering rates in manufacturing and transportation, and raise the threshold for annual sales revenue for small-scale taxpayers¹². Far greater numbers of small low-profit businesses will see their income tax halved¹³. A policy of uniform corporate¹⁴ income tax exemption¹⁵ on the overseas earnings¹⁶ of Chinese businesses will be put into implementation¹⁷. More logistics companies will enjoy preferential tax treatment on their use of land for storage facilities."

The report contends that a priority on higher-quality growth will help in further opening up China's market.

This includes granting complete access to foreign investment in the general manufacturing sector¹⁰ this year. 

Li Keqiang's report also promises more foreign opportunties in the telecommunications, medical services, education, elderly care and new energy vehicle sectors

The report also notes that to encourage imports, plans are being worked on for the creation of the first-ever China International Import Expo this year.

Chinese authorities also plan to lower import tariffs¹⁸ on products including automobiles¹⁹ and certian daily consumer goods as well.

1 high-tech   

adj.高科技的

参考例句：

• The economy is in the upswing which makes high-tech services in more demand too.经济在蓬勃发展，这就使对高科技服务的需求量也在加大。
• The quest of a cure for disease with high-tech has never ceased. 人们希望运用高科技治疗疾病的追求从未停止过。

2 legislative   

n.立法机构，立法权；adj.立法的，有立法权的

参考例句：

• Congress is the legislative branch of the U.S. government.国会是美国政府的立法部门。
• Today's hearing was just the first step in the legislative process.今天的听证会只是展开立法程序的第一步。

3 premier   

adj.首要的；n.总理，首相

参考例句：

• The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
• He requested that the premier grant him an internview.他要求那位总理接见他一次。

4 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

5 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

6 technological   

adj.技术的；工艺的

参考例句：

• A successful company must keep up with the pace of technological change.一家成功的公司必须得跟上技术变革的步伐。
• Today,the pace of life is increasing with technological advancements.当今， 随着科技进步，生活节奏不断增快。

7 nurturing   

养育( nurture的现在分词 )； 培育； 滋长； 助长

参考例句：

• These delicate plants need careful nurturing. 这些幼嫩的植物需要精心培育。
• The modern conservatory is not an environment for nurturing plants. 这个现代化温室的环境不适合培育植物。

8 replacement   

n.取代，替换，交换；替代品，代用品

参考例句：

• We are hard put to find a replacement for our assistant.我们很难找到一个人来代替我们的助手。
• They put all the students through the replacement examination.他们让所有的学生参加分班考试。

9 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

10 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

11 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

12 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。

13 halved   

v.把…分成两半( halve的过去式和过去分词 )；把…减半；对分；平摊

参考例句：

• The shares have halved in value . 股价已经跌了一半。
• Overall operating profits halved to $24 million. 总的营业利润减少了一半，降至2，400 万元。 来自《简明英汉词典》

14 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

15 exemption   

n.豁免，免税额，免除

参考例句：

• You may be able to apply for exemption from local taxes.你可能符合资格申请免除地方税。
• These goods are subject to exemption from tax.这些货物可以免税。

16 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

17 implementation   

n.实施，贯彻

参考例句：

• Implementation of the program is now well underway.这一项目的实施现在行情看好。

18 tariffs   

关税制度； 关税( tariff的名词复数 )； 关税表； （旅馆或饭店等的）收费表； 量刑标准

参考例句：

• British industry was sheltered from foreign competition by protective tariffs. 保护性关税使英国工业免受国际竞争影响。
• The new tariffs have put a stranglehold on trade. 新的关税制对开展贸易极为不利。

19 automobiles   

n.汽车( automobile的名词复数 )

参考例句：

• When automobiles become popular,the use of the horse and buggy passed away. 汽车普及后，就不再使用马和马车了。 来自《简明英汉词典》
• Automobiles speed in an endless stream along the boulevard. 宽阔的林荫道上，汽车川流不息。 来自《现代汉英综合大词典》