App | 中文 |
HOME >> POLICIES >> POLICY WATCH

Lives improved since Government Work Report issued

Updated: Aug 2,2018 2:55 PM     english.gov.cn/Xinhua

Since the Government Work Report was released in March, many promises in the report have been fulfilled. Social-economic indicators are as expected.

Projected annual GDP growth rate: 6.5 percent

Actual GDP growth rate in first half: 6.8 percent

Projected rise in CPI: 3 percent

Actual half-year rise in CPI: 2 percent

Projected new jobs in 2018: 11 million

Actual new jobs created in first half: 7.5 million, or 68 percent of projected number

Projected urban unemployment rate in 2018: below 5.5 percent

Actual urban unemployment rate: 4.8 percent; the number is below 5 percent for three months in a row

Cancel data traffic roaming charges

From July 1, domestic data roaming charges were canceled. Provincial data were upgraded to domestic data, excluding Hong Kong, Macao and Taiwan.

Raise personal income tax threshold, and add expense deduction items for children’s education and treatment for serious diseases

In the draft amendment for personal income tax law, the personal income tax threshold will be raised to 5,000 yuan a month, with expense deductions for items such as children’s education and treatment for serious diseases, home loan interest and home rent. The draft has been submitted for review by the standing committee of the National People’s Congress.

Lower import tariffs on automobiles, some everyday consumer goods

From July 1, import tariffs on automobiles and their parts were reduced, as well as most-favored-nation tax rates on some everyday consumer goods.

Continue raising basic pension for rural and nonworking urban residents

Minimum monthly pension for rural and nonworking urban residents was raised from 70 yuan per person to 88 yuan.

Establish central adjustment system for employees’ basic pension funds to be used inter-provincially

From July 1, the central adjustment system for employees’ basic pension funds to be used inter-provincially was launched.

VIDEOS