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I. Implementation of the 2010 Plan for National Economic and Social Development

Last year, the environment for China's economic and social development was extremely complex, and there were various extremely severe natural disasters and major challenges. Under the firm leadership of the Communist Party of China (CPC), the people of all our ethnic groups thoroughly applied the Scientific Outlook on Development. Based on the plan for national economic and social development adopted at the Third Session of the Eleventh NPC, we steadfastly implemented the package plan for responding to the global financial crisis, accelerated the transformation of the pattern of economic development, and consolidated the good momentum in economic and social development. Overall, the plan for 2010 was implemented well, and the main objectives and tasks set forth in the Eleventh Five-Year Plan were successfully accomplished.

1. Steady and rapid economic growth was maintained.

Economic performance was generally stable, with significant improvement in quality and efficiency. GDP for the year was 39.8 trillion yuan, an increase of 10.3%, and 2.3 percentage points higher than the target. Primary, secondary and tertiary industries grew by 4.3%, 12.2% and 9.5% respectively, and 0.3, 4 and 0.8 percentage points higher than targeted figures. Value-added of industry amounted to 16 trillion yuan, up 12.1% and 4.1 percentage points higher than the target. By strengthening regulation and overall coordination of supplies of coal, electricity, oil, gas and transport, we were able to meet all the demands of economic and social development and people's lives, demands from disaster-stricken areas and major events, and demands placed on us at crucial times. National revenue for 2010 was 8.3 trillion yuan, an increase of 21.3%. The deficit was 50 billion yuan less than the budgeted amount. The broad money supply (M2) increased by 19.7% and RMB loans totaling 7.95 trillion yuan were granted in 2010. The performance of enterprises continued to improve, and the profits of large industrial enterprises reached 3.88 trillion yuan in January through November, a year-on-year increase of 49.4%.

Domestic demand continued to expand, and the driving forces of economic growth became increasingly coordinated. Policies to stimulate consumer spending achieved positive results and the country's consumption potential was further unleashed. Retail sales of consumer goods totaled 15.6998 trillion yuan, a year-on-year increase of 18.3%, and 3.3 percentage points higher than the target. A total of 77.18 million home appliances, an increase of 130%, were sold through the national program for subsidizing rural residents' purchase of home appliances. A total of 18.06 million motor vehicles were sold, an increase of 32.4%. Appropriate growth was maintained in investment and the investment structure was further improved. Fixed-asset investment across the country amounted to 27.814 trillion yuan, up 23.8% from the previous year and exceeding the target figure by 3.8 percentage points. The plan to increase investment by four trillion yuan over two years was successfully completed. Guidelines on encouraging and guiding the sound development of nongovernmental investment were issued and implemented, which injected new vitality into investment from nongovernmental sources. In 2010, non-governmental investment accounted for 51.1% of total fixed-asset investment in urban areas, 3 percentage points higher than the previous year. Consumption contributed 3.9 percentage points to economic growth, investment contributed 5.6 percentage points, and net exports contributed 0.8 percentage points.

Overall price levels remained basically stable and markets were further standardized. We implemented a number of measures to keep prices stable and improve people's lives. We did a good job of stockpiling and releasing grain, cotton, meat, sugar and other important commodities; increased the varieties of fresh and live agricultural products that qualify for the toll-free policy and extended the policy to all toll roads; improved the mechanism to adjust living allowances for the poor in step with price changes, and therefore reduced the impact of price rises on their lives; suspended or eliminated some charges and fees, reduced the levels of others and lowered drug prices, thereby easing the burden on enterprises and the people; and organized and launched campaigns to rectify unreasonable charges and fees related to enterprises, electricity rates and prices of agricultural products, and to crack down on violations of intellectual property rights and on the production and sale of counterfeit or substandard goods in order to create a well-ordered pricing and market environment. Overall, annual CPI rose 3.3%, meaning the target for price control was basically achieved.

2. The agricultural foundation was consolidated.

Production of grain and other major agricultural products increased steadily. Despite severe droughts, low temperatures, scant sunlight, and serious floods in various areas, annual national grain output totaled 546.41 million tons, an increase of 15.59 million tons, up 2.9% from the previous year, and rising for the seventh consecutive year. Oilseed output was 32.39 million tons, up 2.7%. Livestock production was generally stable, the output of meat totaled 79.25 million tons, up 3.6%, and the output of aquatic products was 53.66 million tons, up 4.9%. Due to bad climatic conditions in some areas as well as reduced acreage, the output of cotton was 5.97 million tons, down 6.3%, and the output of sugar crops was 120.45 million tons, down 1.9%.

We effectively implemented policies to strengthen agriculture and benefit farmers. Annual central government spending on agriculture, rural areas and farmers totaled 857.97 billion yuan, up 18.3% from the previous year. This included 192.8 billion yuan of central budgetary investment used in agriculture and rural areas, making up 49% of the total central budgetary investment. We further intensified our efforts to protect farmland, improved over 1.3 million hectares of rural land, and more than 300,000 hectares of land was cultivated for the first time. We fully implemented the plan to increase China's grain production capacity by 50 million tons, and intensified development of cotton, edible oil and sugar production bases as well as work on the crop protection project, the animal epidemic prevention system and the project to cultivate superior varieties and breeds. We formulated and carried out policies to intensify the construction of small and medium-sized water conservancy facilities, promote agricultural mechanization and ensure the production and supply of vegetables. We completed all tasks included in the plan of reinforcing reservoirs and started implementing the second round of projects to reinforce dilapidated small reservoirs. We supported the construction of distribution infrastructure such as wholesale markets for agricultural products, grain and edible oils storage facilities, and cold-chain logistics for agricultural products. Compared with 2009, the average minimum purchase prices for wheat and rice increased by 3 yuan and 6 yuan per 50 kilograms respectively; we successfully implemented a policy for temporarily purchasing and stockpiling soybeans and canola seeds; and there were sufficient supplies of chemical fertilizers. The four kinds of subsidies to grain growers amounted to 122.6 billion yuan.

Rural working and living conditions continued to improve. In 2010, we provided safe drinking water to an additional 61.86 million rural residents and to teachers and students at rural schools, making safe drinking water available to 71.3% of the rural population. An additional 300,000 kilometers of electric power lines were installed in the countryside. Altogether, 96% of towns and townships and 81% of villages are now connected to asphalt roads. We supported the construction of 1,343 large and medium-sized methane projects, providing methane to another 5 million households nationwide. We renovated dilapidated houses for 1.2 million rural households, thereby meeting the planned target. Another 100,000 stores were set up in the countryside under the project to get retailers to open stores in more townships and villages, and a rural network of chain stores began to take shape.
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