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On March 5， Chinese Premier Li Keqiang delivered the annual government work report at the Third Session of the 12th National People’s Congress. Many new statements were found in the report， drawing massive attention from both foreign and domestic media. This issue， China Pictorial lays out 16 new statements from the work report in hopes of catching a glimpse of China’s developmental direction for the next year.
1. The Belt and Road Initiatives
Original text： We will integrate the development of the Silk Road Economic Belt and the 21st Century Maritime Silk Road with the development and opening up of related regions. We will promote development of the new Eurasian Continental Bridge as well as major coastal and border ports which serve as hubs for the Belt or the Road.
Interpretation： The Belt and Road Initiatives refer to the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
2. “Internet Plus” Action Plan
Original text： We will develop the “Internet Plus” action plan to integrate the mobile Internet， cloud computing， big data， and the Internet of Things with modern manufacturing.
Interpretation： In the term “Internet Plus，” “Plus” refers to various traditional industries. The “Internet Plus” action plan aims to promote the innovative integration of the internet and various traditional industries and engineer full connection between them in various aspects.
3. PPP （Public-Private-Partnership）
Original text： We will actively promote models of cooperation between government and nongovernmental capital in developing infrastructure and public utilities.
Interpretation： In the fields of infrastructure and public utilities， the public-private-partnership is a model in which governments and private capitals participate together in investment. PPP involves a contract between a public sector authority and a private party.
4. National Unified Credit Rating System
Original text： We will work to improve the credit rating system， establish a national unified system of codes for rating credit and establish a platform for sharing and exchanging information on credit.
Interpretation： A national unified system of codes for rating credit will emerge， which means each citizen and organization will have their own credit score. Information related to credit such as assets will be integrated.
5. Temporary-assistance Scheme Original text： We will increase aid for treating major and serious diseases and implement a temporary-assistance scheme nationwide so that people with urgent or special needs will have somewhere to go for support and will be able to get that support straight away.
Interpretation： As an institution with the aim of solving rural and urban residents’ temporary and sudden difficulties， the temporaryassistance scheme fills a gap in China’s social relief system.
6. Targeted Regulation
Original text： In the face of mounting downward economic pressure， we exercised targeted regulation， stimulated market activity， shored up our weak spots， and boosted the real economy.
Interpretation： The purpose of targeted regulation is to help the survival of small and micro businesses. Targeted regulation also aims to solve a past problem in which a specific reform measure is too hard for regions in western China but too easy for eastern China.
7. Maker
Original text： Internet-based finance rose swiftly to prominence. E-commerce， logistics， express delivery services and other emerging businesses developed rapidly. We have seen many makers emerge fast， and the cultural and creative industries have been developing with great vitality.
Interpretation： Adopting the English term， “maker” refers to the community of a wide variety of interests and skill levels including technology-based extension of DIY culture such as open-sourcing. Such people transform various innovative ideas into reality as a hobby.
8. Twin Engines
Original text： We need to develop twin engines to drive development： popular entrepreneurship and innovation paired with increased supplies of public goods and services.
Interpretation： In terms of the twin engines， they increase public goods， services， and governmental investments on one side and the development of popular entrepreneurship and innovation on the other.
9. Middle-income Trap
Original text： In order to defuse problems and risks， avoid falling into the “middle-income trap，” and achieve modernization， China must rely on development， and development requires an appropriate growth rate.
Interpretation： “The middle-income trap” essentially refers to an economic phenomenon of a nation’s development sticking at a certain income level. The middle-income trap occurs when a country’s growth plateaus and eventually stagnates after reaching middle income levels. According to the World Bank， China’s per capita GDP in 2012 reached US$ 6，100， already amidst countries with middle-and-above incomes. 10. Total Factor Productivity
Original text： We need to increase research and development spending， raise total factor productivity， improve quality， standards， and brand-building， strengthen the service sector and strategic emerging industries and increase their share of the economy.
Interpretation： An increase in total factor productivity is often considered a result of intangible factors such as scientific and technological progress， structural reform， and innovations on organization and management.
11. Shenzhen-Hong Kong Stock Connect
Original text： We will … launch the Shenzhen-Hong Kong Stock Connect on a trial basis at an appropriate time.
Interpretation： With the Shenzhen-Hong Kong Stock Connect program， the Shenzhen Stock Exchange and Hong Kong Exchanges and Clearing Limited will allow eligible listed shares to trade on each other’s market.
12. Stock Registration System
Original text： We will strengthen the multilevel capital market and implement reform to introduce a system of registration for issuing stocks.
Interpretation： With the registration system for issuing stocks， securities regulatory institutions only make formal examinations on required papers， rather than making substantive verification and value judgment on issuers. Performances of stocks will be left to the market.
13. Smart City
Original text： We will develop smart cities and protect historical and local culture， ensuring they are passed on from generation to generation.
Interpretation： The core of “smart city” is creating a better life for people living in it using advanced information technology and realizing smart city management and operation.
14. Four Regions and Three Belts
Original text： We will pursue a coordinated strategy to develop the western region， revitalize the northeast， boost the central region， and ensure the eastern region takes the lead in development and the strategy of developing the Silk Road Economic Belt， the 21st Century Maritime Silk Road， the Beijing-Tianjin-Hebei region， and the Yangtze Economic Belt.
Interpretation： Four Regions refers to western， northeast， central， and eastern regions in China. Three Belts： The Belt and Road （Silk Road Economic Belt and 21st Century Maritime Silk Road）， the Beijing-Tianjin-Hebei region， and the Yangtze Economic Belt.
15. Made in China 2025
Original text： We will implement the “Made in China 2025”strategy， seek innovation-driven development， apply smart technologies， strengthen foundations， pursue green development and redouble our efforts to upgrade China from a manufacturer of quantity to one of quality.
Interpretation： Planning for Made in China 2025 has made top-level design and roadmap for China’s manufacturing in the next 10 years.
16. Creativity
Original text： We will work hard to develop the right environment for creativity， establishing more national innovation demonstration zones and ensuring smooth functioning of new and high-technology national development zones.
Interpretation： Developing the right environment for creativity is of great importance in terms of stimulating general public’s creativity， fostering young professionals and teams， and expanding employment opportunities.
1. The Belt and Road Initiatives
Original text： We will integrate the development of the Silk Road Economic Belt and the 21st Century Maritime Silk Road with the development and opening up of related regions. We will promote development of the new Eurasian Continental Bridge as well as major coastal and border ports which serve as hubs for the Belt or the Road.
Interpretation： The Belt and Road Initiatives refer to the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
2. “Internet Plus” Action Plan
Original text： We will develop the “Internet Plus” action plan to integrate the mobile Internet， cloud computing， big data， and the Internet of Things with modern manufacturing.
Interpretation： In the term “Internet Plus，” “Plus” refers to various traditional industries. The “Internet Plus” action plan aims to promote the innovative integration of the internet and various traditional industries and engineer full connection between them in various aspects.
3. PPP （Public-Private-Partnership）
Original text： We will actively promote models of cooperation between government and nongovernmental capital in developing infrastructure and public utilities.
Interpretation： In the fields of infrastructure and public utilities， the public-private-partnership is a model in which governments and private capitals participate together in investment. PPP involves a contract between a public sector authority and a private party.
4. National Unified Credit Rating System
Original text： We will work to improve the credit rating system， establish a national unified system of codes for rating credit and establish a platform for sharing and exchanging information on credit.
Interpretation： A national unified system of codes for rating credit will emerge， which means each citizen and organization will have their own credit score. Information related to credit such as assets will be integrated.
5. Temporary-assistance Scheme Original text： We will increase aid for treating major and serious diseases and implement a temporary-assistance scheme nationwide so that people with urgent or special needs will have somewhere to go for support and will be able to get that support straight away.
Interpretation： As an institution with the aim of solving rural and urban residents’ temporary and sudden difficulties， the temporaryassistance scheme fills a gap in China’s social relief system.
6. Targeted Regulation
Original text： In the face of mounting downward economic pressure， we exercised targeted regulation， stimulated market activity， shored up our weak spots， and boosted the real economy.
Interpretation： The purpose of targeted regulation is to help the survival of small and micro businesses. Targeted regulation also aims to solve a past problem in which a specific reform measure is too hard for regions in western China but too easy for eastern China.
7. Maker
Original text： Internet-based finance rose swiftly to prominence. E-commerce， logistics， express delivery services and other emerging businesses developed rapidly. We have seen many makers emerge fast， and the cultural and creative industries have been developing with great vitality.
Interpretation： Adopting the English term， “maker” refers to the community of a wide variety of interests and skill levels including technology-based extension of DIY culture such as open-sourcing. Such people transform various innovative ideas into reality as a hobby.
8. Twin Engines
Original text： We need to develop twin engines to drive development： popular entrepreneurship and innovation paired with increased supplies of public goods and services.
Interpretation： In terms of the twin engines， they increase public goods， services， and governmental investments on one side and the development of popular entrepreneurship and innovation on the other.
9. Middle-income Trap
Original text： In order to defuse problems and risks， avoid falling into the “middle-income trap，” and achieve modernization， China must rely on development， and development requires an appropriate growth rate.
Interpretation： “The middle-income trap” essentially refers to an economic phenomenon of a nation’s development sticking at a certain income level. The middle-income trap occurs when a country’s growth plateaus and eventually stagnates after reaching middle income levels. According to the World Bank， China’s per capita GDP in 2012 reached US$ 6，100， already amidst countries with middle-and-above incomes. 10. Total Factor Productivity
Original text： We need to increase research and development spending， raise total factor productivity， improve quality， standards， and brand-building， strengthen the service sector and strategic emerging industries and increase their share of the economy.
Interpretation： An increase in total factor productivity is often considered a result of intangible factors such as scientific and technological progress， structural reform， and innovations on organization and management.
11. Shenzhen-Hong Kong Stock Connect
Original text： We will … launch the Shenzhen-Hong Kong Stock Connect on a trial basis at an appropriate time.
Interpretation： With the Shenzhen-Hong Kong Stock Connect program， the Shenzhen Stock Exchange and Hong Kong Exchanges and Clearing Limited will allow eligible listed shares to trade on each other’s market.
12. Stock Registration System
Original text： We will strengthen the multilevel capital market and implement reform to introduce a system of registration for issuing stocks.
Interpretation： With the registration system for issuing stocks， securities regulatory institutions only make formal examinations on required papers， rather than making substantive verification and value judgment on issuers. Performances of stocks will be left to the market.
13. Smart City
Original text： We will develop smart cities and protect historical and local culture， ensuring they are passed on from generation to generation.
Interpretation： The core of “smart city” is creating a better life for people living in it using advanced information technology and realizing smart city management and operation.
14. Four Regions and Three Belts
Original text： We will pursue a coordinated strategy to develop the western region， revitalize the northeast， boost the central region， and ensure the eastern region takes the lead in development and the strategy of developing the Silk Road Economic Belt， the 21st Century Maritime Silk Road， the Beijing-Tianjin-Hebei region， and the Yangtze Economic Belt.
Interpretation： Four Regions refers to western， northeast， central， and eastern regions in China. Three Belts： The Belt and Road （Silk Road Economic Belt and 21st Century Maritime Silk Road）， the Beijing-Tianjin-Hebei region， and the Yangtze Economic Belt.
15. Made in China 2025
Original text： We will implement the “Made in China 2025”strategy， seek innovation-driven development， apply smart technologies， strengthen foundations， pursue green development and redouble our efforts to upgrade China from a manufacturer of quantity to one of quality.
Interpretation： Planning for Made in China 2025 has made top-level design and roadmap for China’s manufacturing in the next 10 years.
16. Creativity
Original text： We will work hard to develop the right environment for creativity， establishing more national innovation demonstration zones and ensuring smooth functioning of new and high-technology national development zones.
Interpretation： Developing the right environment for creativity is of great importance in terms of stimulating general public’s creativity， fostering young professionals and teams， and expanding employment opportunities.