🇨🇳Key takeaways of 2022 #China Government Work Report:
🔸2022 GDP growth target at about 5.5%
🔸2022 CPI growth target at about 3%
🔸Budget deficit at 2.8% of GDP vs 3.2% 2021
🔸Add 11 million urban jobs in 2022 vs 11 mln 2021.
🔸Plans 3.65 tln yuan special gov bond sales
1/n
🔸2022 GDP growth target at about 5.5%
🔸2022 CPI growth target at about 3%
🔸Budget deficit at 2.8% of GDP vs 3.2% 2021
🔸Add 11 million urban jobs in 2022 vs 11 mln 2021.
🔸Plans 3.65 tln yuan special gov bond sales
1/n
🔸2022 surveyed jobless rate at within 5.5%
🔸Ensure grain and energy securities
🔸Strengthen prudent monetary policy #PBOC
🔸Tax cut and rebate at 2.5 tln yuan
🔸To use reserves policy tools in time
🔸To stabilize land and home price
🔸Yuan to be kept basically stable $CNY
2/n
🔸Ensure grain and energy securities
🔸Strengthen prudent monetary policy #PBOC
🔸Tax cut and rebate at 2.5 tln yuan
🔸To use reserves policy tools in time
🔸To stabilize land and home price
🔸Yuan to be kept basically stable $CNY
2/n
🔸Maintains current wording on monetary and fiscal policies
🔸To set up a financial stability guarantee fund
🔸More than 2 trillion yuan of fiscal spending in 2022 vs 2021
🔸To ensure supply chain safe and stable
🔸Risks and challenges for development rise significantly
3/n 🇨🇳
🔸To set up a financial stability guarantee fund
🔸More than 2 trillion yuan of fiscal spending in 2022 vs 2021
🔸To ensure supply chain safe and stable
🔸Risks and challenges for development rise significantly
3/n 🇨🇳
🔸To promote the development of venture capital in 2022 #VC #VentureCapital
🔸To enhance the supply of key software and hardware
🔸To adopt new ways to enhance online content developments. $KEWB
🔸To improve cyberspace governance in 2022 $FXI
4/n #China 🇨🇳
🔸To enhance the supply of key software and hardware
🔸To adopt new ways to enhance online content developments. $KEWB
🔸To improve cyberspace governance in 2022 $FXI
4/n #China 🇨🇳
🔸Plans 7.1% boost to 1.45 tln yuan in 2022 defense spending.
*The biggest boost in the last 3 years
🔸2022 outstanding sovereign bonds limit at 26.7 tln yuan
🔸3.8% rise in fiscal revenue, 8.4% rises in spending
5/n #China #EconTwitter 🇨🇳
*The biggest boost in the last 3 years
🔸2022 outstanding sovereign bonds limit at 26.7 tln yuan
🔸3.8% rise in fiscal revenue, 8.4% rises in spending
5/n #China #EconTwitter 🇨🇳
🔸To increase production of #soybeans and other oilseed crops
🔸Annual grain output of over 650 million metric tons
🔸To promptly deploy reserve policy tools
🔸Make steady and prudent progress on #Hydrogen power sector.
6/n #China #EconTwitter
🔸Annual grain output of over 650 million metric tons
🔸To promptly deploy reserve policy tools
🔸Make steady and prudent progress on #Hydrogen power sector.
6/n #China #EconTwitter
NDRC sees the new-energy car sales will exceed expectations. Will perform gas, nuke, wind, and the solar power price mechanism.
Agriculture Minister sees difficulties in agricultural production in 2022. The grain supplies are ample.
7/n #China #EconTwitter 🇨🇳 #OOTT
Agriculture Minister sees difficulties in agricultural production in 2022. The grain supplies are ample.
7/n #China #EconTwitter 🇨🇳 #OOTT
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