Many details of the government work report show China's determination and confidence in stabilizing growth.
After the economic growth rate dropped to 4.9% and 4.0% in the third and fourth quarters of last year, the report set the expected target of China's GDP growth rate in 2022 at around 5.5%, demonstrating China's determination and confidence to stop the downward trend of economic growth.
After launching the special national debt in 2020 in the face of the pressure of epidemic prevention and control, China has once again launched a powerful fiscal policy tool this year, and the scale of expenditure can be expanded by more than 2 trillion yuan compared with last year.
This money will play an important role in helping companies bail out, stabilizing employment and ensuring people's livelihood.
In addition, China will reduce tax rebates by about 2.5 trillion yuan in 2022. This move demonstrates China's determination to stabilize market players and ensure employment, and will further boost market confidence.
Responsible editor: [Li Ji]