A government work report rich in content and full of highlights was delivered by Premier Li Keqiang at the opening meeting of the First Session of the 14th National People’s Congress, China’s national legislature, at the Great Hall of the People in Beijing on Sunday.
For Shenzhen, the report contains both major opportunities and missions. Let’s take a look through eight key words.
1. Expanding domestic demand
China will expand its domestic demand this year. Priority will be given to the recovery and expansion of consumption, and incomes of urban and rural residents will be boosted through multiple channels, according to the report. It is proposed that 3.8 trillion yuan (US$550 billion) will be allocated for special-purpose bonds for local governments this year.
Last year, Shenzhen’s gross domestic product reached 3.24 trillion yuan, with strong momentum manifested in investment, consumption and exports. In 2023, Shenzhen will continue to expand its domestic demand. Shenzhen has set the goal for its total retail sales of consumer goods to increase by 7% this year to exceed 1 trillion yuan.
2. Modernizing industrial system
China will accelerate the modernization of its industrial system, with a focus on key industrial chains in the manufacturing sector, pool quality resources and make concerted efforts to achieve breakthroughs in core technologies in key fields, as per the government work report.
China should redouble efforts to explore and develop important energy and mineral resources, discover more reserves and boost production, the report said. The country will speed up the digitalization of traditional industries and small and medium-sized enterprises to make them higher-end, smarter and more eco-friendly.
This year, Shenzhen has proposed to prioritize developing the real economy and the manufacturing industry, and vigorously develop strategic emerging industrial clusters and future industries.
3. Keeping skies blue, waters clear and lands clean
China must continue the transition to green development, intensify pollution prevention and control, move faster to develop a new energy system and continue working to keep its skies blue, waters clear and lands clean, the report said.
This year, Shenzhen will start the construction of a mangrove wetland museum, vigorously develop a green and low-carbon economy, and ensure blue skies, fresh air and clear waters.
4. Boosting expectations and confidence
China will deepen reform of State-owned capital and State-owned enterprises (SOEs) and enhance the core competitiveness of its SOEs. China will also encourage and support the private sector and private businesses in growing and expanding, and support micro, small, and medium-sized enterprises and self-employed individuals in business development, the report said.
This year, Shenzhen will keep implementing a series of measures to boost confidence and expectations and launch upgraded reform measures to further optimize its business environment.
5. Attracting and utilizing foreign investment
China will intensify efforts to attract and utilize foreign investment, expand market access, continue to open up the modern services sector, ensure national treatment for foreign-funded companies, improve services for foreign-funded companies and facilitate the launch of landmark foreign-funded projects, the report said.
In 2023, Shenzhen will step up its efforts to promote investment and introduce talents globally, focusing on its advanced manufacturing and modern service industries, and bring in more industries, enterprises, capital and talents.
6. Improving living quality
China will make continuous improvements in sectors from housing to medical care this year, the report said.
This year, Shenzhen has proposed to speed up the construction of three “15-minute life circles.” It is particularly worth mentioning that there has been some major actions in affordable housing construction in Shenzhen recently, showing that the city has been making every effort to help alleviate housing difficulties of newcomers, young people and other groups.
7. Rural revitalization
China aims to stabilize grain output and advance rural revitalization this year. The report also called for fostering rural industries with local features to create more channels for increasing rural incomes.
In the past few years, Shenzhen has helped lift 2.04 million people in 54 counties, districts and cities in nine provinces out of poverty, contributing to the building of a moderately prosperous society in China. The city will take Shenshan Special Cooperation Zone as the main “battlefield” for rural revitalization and actively build a pilot demonstration zone of agricultural science and technology innovation.
8. Greater Bay Area
Further advancing the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) was once again mentioned in the government work report.
Shenzhen, as the core engine of the GBA, is putting more effort in the process of promoting connectivity. On Feb. 6, personnel exchanges between the mainland and Hong Kong and Macao fully resumed.