Government Faces Heavy Workload amid World Economic Trends
The Chinese government is facing a weighty workload for this year even with uncertainty over world economic trends and the county’s own challenges as they undergo stages of economic transition. This was the remarks made by Premier Li Keqiang during th State Council plenary meeting last Friday in Beijing. The world economy is developing but with deep uncertainty and the task for the Chinese government will be heavy in 2016. In January the World Bank slashed the global forecast for 2016 to 2.9 percent, stating that a weak growth among emerging major markets is weighing down on global growth for 2016.
A lot of world organizations lowered their predictions for world economic growth several times for 2015 and Chine also had it problems and contradictions that will face during this stage of transition. Thus the government need to do a better job placing forward their structural reforms for this year especially the reforms on supply side of the economy. Furthermore a comprehensive plan must be employed to maintain a stable growth. During a meeting that was attended by officials from various State departments discussed the draft of the government work report and will be delivered to the top legislature’s annual session in Beijing after the Spring Festival.
The State Council sends the work report to provincial reports regions to solicit opinions and serves as a general guideline for the government works in its review progress in the previous year, by doing plans and set targets for the current year. Although china met its major goals that was set during the 12th Five Year Plan during the country’s Gross Domestic Product increase to 40 trillion yuan up to 67.67 percent. The achievement was not easy to obtain by by adding those measures proved effective should be further employed and developed.
A concrete progress should be made in handling the decrease in industrial profits, and maintaining stable increases in the exports and imports in China, while expanding effective investments together with accelerated reforms of State owned enterprises in 2016.