Ministers roll out key economic measures

After the 2018 Government Work Report was delivered to the first session of the 13th National People's Congress, ministries elaborated on key points related to China's economy at news conferences on the sidelines of the annual session of the NPC.

Let's take a look at 7 highlights.

He Lifeng, minister of the National Development and Reform Commission, answers questions at a news conference of the first session of the 13th National People's Congress in Beijing on March 6, 2018. [Photo by Wang Zhuangfei/China Daily]

NDRC: China capable of meeting 6.5 percent annual growth target this year

China is confident it will meet its 6.5 percent annual growth target this year, with more efforts to implement supply-side reforms and further promote economic opening up.[page]

  

Xiao Jie, minister of finance, speaks at a news conference of the first session of the 13th National People's Congress in Beijing on March 7, 2018. [Photo by Feng Yongbin/China Daily]

Ministry of Finance: tax cuts to benefit individuals and enterprises in 2018

In 2018, China will continue to carry out policies of slashing taxes and fees, and the total amount of taxes and fees cut to benefit individuals and enterprises is estimated to reach 1.1 trillion yuan ($173.83 billion). China will raise the personal income tax threshold to be consistent with consumer price and the drafting of a reasonable and appropriate national taxation system on property ownership is in full swing.[page]

Han Changfu, minister of agriculture, at a news conference on the sidelines of the annual session of the National People's Congress in Beijing on March 7, 2018. [Photo/Xinhua]

Ministry of Agriculture: China will see a promising and lucrative agricultural industry

Farming will become an attractive and demanding profession, while rural areas will become beautiful and prosperous, as the country steps up its efforts to revitalize its vast rural regions.[page]

Zhou Xiaochuan, central bank governor, attends a news conference on the sidelines of the annual session of the National People's Congress in Beijing on March 9, 2018.

PBOC: Leverage levels stabilizing, gradually falling

China's leverage levels are stabilizing and gradually falling. Under the new financial regulatory framework, China is already dealing with already surfacing risks in financial and quasi-financial institutions to maintain the health of the financial system. The central bank will play a more important role in the country's new regulatory framework.[page]

Wan Gang, minister of science and technology, answers questions at a press conference on the sidelines of the two sessions in Beijing on March 10, 2018. [Photo/Xinhua]

Ministry of Science and Technology: plan to boost AI research soon to be published

China will strengthen the use of artificial intelligence to solve security, health, environment and other key public issues and plans to soon publish a guideline and detailed regulations on AI development and breakthroughs in critical technologies.[page]

Xiao Yaqing, head of the State-Owned Assets Supervision and Administration Commission, speaks on the sidelines of the 13th National People's Congress in Beijing on March 10, 2018.

SASAC: Central SOEs' debt level stable

China's central State-owned enterprises have reported a stable level of debt over the past year, while the government's main task this year still will be to reduce corporate leverage, lower debt ratio and ward off risks.[page]

Zhong Shan, minister of commerce, takes questions at a press conference on the sidelines of the first session of the 13th National People's Congress in Beijing on March 11, 2018. [Photo by Xu Jingxing/chinadaily.com.cn]

Ministry of Commerce: China doesn't want trade war with US
China has no intention to start a trade war with the United States and will not initiate one, but the country can cope with any challenge and will defend the interests of the country and the people.

Editor: John Li