The Chinese government will subsidize 63.2 billion yuan - 8.1 billion more than last year - to build 3 million economically affordable houses and rebuild 280 million houses in 2010, according to the government report delivered by Premier Wen this morning.
The year of 2010 will be a crucial but complicated year for China's economic development, Premier Wen Jiabao said at the parliament annual session Friday.
Chinese Premier Wen Jiabao on Friday reiterated determination to curb excessive growth of home prices in major cities and satisfy people's basic need for housing as the annual session of China's top legislature opens.
Chinese government on Friday announced to allocate 43.3 billion yuan ($6.34 billion) to boost employment this year as it opens its annual parliament session.
The Chinese central government will not only make the "pie" of social wealth bigger by developing the economy, but will also distribute it better on the basis of a rational income distribution system, according to a government work report delivered Friday at the opening meeting of the annual full session of the National People's Congress, the country's top legislature.
China budgets 1.05 trillion yuan ($154.4 billion) of fiscal deficit this year to support economic growth as government revenue will fall significantly short of expenditures, says a government work report to be delivered by Premier Wen Jiabao at the parliament's annual session Friday.
The volume of renminbi loans this year will be increased by approximately 7.5 trillion yuan ($1.1 trillion), according to a government work report delivered Thursday at the opening meeting of the annual plenary session of the National People's Congress, the country's top legislature.
Chinese Premier Wen Jiabao vowed Friday to enhance rational income distribution system as it is an "important manifestation of social fairness and justice" and a major way out for boosting domestic demand and narrowing income gap.
Reaching agreements on climate change will continue to be a key part of China's diplomatic work in 2010, said a government work report to be delivered by Premier Wen Jiabao on Friday morning at the convening of the annual National People's Congress.
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