Highlights of Premier Wen's government work report

BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao is to deliver a government work report at the opening meeting of the annual full session of the National People's Congress (NPC), China's top legislature, scheduled to start in the Great Hall of the People at 9 a.m. Friday.

Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2010. (Xinhua/Liu Weibing)

Following are the highlights of Wen's Report on the Work of the Government. The text of the report was distributed to the media prior to the opening of the NPC session:

MAJOR TARGETS for 2010

-- GDP will grow by about 8 percent;

-- Urban employment will increase by more than 9 million people;

-- Urban registered unemployment rate will be kept no higher than 4.6 percent;

-- Rise in the CPI will be held around 3 percent;

-- Balance of payments will be improved;

-- Sound development, and transforming the pattern of economic development will be emphasized.

DEFICIT

-- A deficit of 1.05 trillion yuan has been projected, which consists of 850 billion yuan in central government deficit and 200 billion yuan in local government bonds, which will be included in local government budgets.

LOANS

-- The total quantity of renminbi loans will be increased by approximately 7.5 trillion yuan.

EMPLOYMENT

-- The central government will allocate 43.3 billion yuan to stimulate employment;

-- Emphasis will be given to helping college graduates, rural migrant workers, people experiencing employment difficulty, and demobilized military personnel find jobs.

PROPERTY MARKET

-- The government will resolutely curb the precipitous rise of housing prices in some cities and satisfy people's basic need for housing;

-- The government will make greater efforts to deal with violations of laws and regulations such as keeping land unused, property hoarding, and price rigging.

INCOME DISTRIBUTION

-- The central government will not only make the "pie" of social wealth bigger by developing the economy, but also distribute it well on the basis of a rational income distribution system.

AGRICULTURE

-- The central government will allocate 133.5 billion yuan for direct subsidies for farmers, a year-on-year increase of 6.04 billion yuan.

EDUCATION

-- Education reform will be advanced in the system for operating schools, curricula, teaching methods, and evaluation systems.