Second session of the 14th National People's Congress
The second 'session of the 14th National People's Congress' of the People's Republic of China was held from 5 March to 11 March 2024, concurrently with the Chinese People's Political Consultative Conference as part of the annual Two Sessions. The 14th National People's Congress was held at the Great Hall of the People in Beijing.
The event was held largely without COVID restrictions for the first time since the COVID-19 pandemic. On 4 March, the NPC spokesperson Lou Qinjian said Premier Li Qiang won't hold the annual press conferences for the remaining term of China's parliament, which ends in 2027, ending a tradition maintained for three decades.
The session
In his maiden government work report on 5 March, Premier Li Qiang spent considerable time discussing how to help struggling private players as well as ease the concerns of foreign businesses. He promised the government would settle overdue payments owed to private businesses. The report mentioned that the government would want to make it easier for migrant workers to be able to change their hukous to urban ones, a subject has long been discussed. It also mentioned that China will improve birth policy to support a growing elderly population by raising benefits and basic pensions and pushing forward a private pension system. Li said Hong Kong should continue implementing the governing principles of "One country, two systems" and "patriotic administration", and added that Beijing would support Hong Kong in developing its economy and improving residents' livelihood. He attributed a litany of achievements in 2023 to Xi, and called for officials to rally more closely around the Chinese Communist Party with Xi Jinping at its core. Li rattled off the report in 50 minutes, the shortest time since 2001. Xinhua News Agency summarized the highlights of the report, including:- 2024 GDP growth target: around 5 percent
- Creating over 12 million jobs in urban areas
- Ratio of deficit to GDP: 3 percent
- Special-purpose bonds for local governments: 3.9 trillion yuan
- Issuing ultra-long special treasury bonds
- Launching AI Plus initiative
- Enhancing disruptive and frontier technology research
- Launching year-long program to stimulate consumption
- Investment from central government budget: 700 billion yuan
- Expanding domestic demand
- Ensuring national treatment for foreign-funded enterprises
- Working toward joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership
- Pursuing higher-standard opening up
- Defusing risks in property, local debt, small and medium-sized financial institutions
- Ensuring both development and security
- Advancing energy revolution
- Opposing "Taiwan independence" and external interference
On 8 March, the NPC deputies held group meetings to review the work report of the NPCSC. Zhao Leji delivered the report at the second plenary meeting of the second session of the 14th NPC. The report pledged to enact legislation including an emergency management law and atomic energy law, and will revise laws on national defence education and cybersecurity.
Economic targets and budget
The following economic targets were set by the government work report submitted to the NPC:| 2024 target | Result | ||
| GDP growth | ~5% | 5% | |
| CPI | ~3% | 0.2% | |
| New urban jobs | 12 million | 12.56 million | |
| Deficit-to-GDP ratio | 3% |
The NPC session also adopted the following central government budget:
Government budget
In trillions of renminbi:| Planned | % change | Actual | |
| Central general public budget revenue | 10.243 | 2.9 | 10.045 |
| Central general public budget expenditure | 14.406 | 2 | 14.112 |
| Central government expenditure | 4.152 | 8.6 | 4.072 |
| Transfer to local governments | 10.203 | 4.1 | 10.040 |
| Local general public budget revenue | 12.153 | 3.7 | 11.927 |
| Local general public budget expenditure | 24.347 | 3 | 24.389 |
| National general public budget revenue | 22.395 | 3.3 | 21.970 |
| National general public budget expenditure | 28.549 | 4 | 28.461 |
Central public budget expenditure
In billions of renminbi:| Planned | % change | |
| General public services | 158.6 | 4.5 |
| Diplomacy | 60.8 | 6.6 |
| National defense | 1,665.5 | 7.2 |
| Public security | 227.7 | 1.4 |
| Education | 164.9 | 5 |
| Science and technology | 370.8 | 10 |
| Culture, tourism, sports and media | 19.0 | 10 |
| Social security and employment | 117.5 | 11.6 |
| Health | 33.0 | 11.3 |
| Energy conservation and environmental protection | 20.9 | 7.1 |
| Urban and rural communities | 0.4 | 30.7 |
| Agriculture, forestry and water | 27.3 | 6.5 |
| Transportation | 84.8 | 9.6 |
| Resource exploration and industrial information | 44.8 | 11.1 |
| Commercial services | 4.2 | 39.9 |
| Financial | 60.5 | 15.4 |
| Natural resources, oceanography and meteorology | 28.2 | –1.4 |
| Housing security | 62.3 | 0.2 |
| Stockpiling grain, edible oils, and other materials | 140.6 | 8.1 |
| Debt interest payments | 777.3 | 11.9 |
| Total | 4,152.0 | 8.6 |
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