CHINA will give priority to high-quality development this year, setting its GDP growth target at above 6 percent, Premier Li Keqiang said Friday, as the world’s second-largest economy looks to cement its economic recovery from a year disrupted by COVID-19.

In the government work report delivered at the opening of the fourth session of the 13th National People’s Congress, Premier Li underscored that the economic fundamentals that will sustain China’s long-term growth remain unchanged despite potential risks and challenges this year.

This year, the country aims to create more than 11 million new urban jobs, lower the deficit-to-GDP ratio to 3.2 percent, and expand domestic demand and effective investment, which are expected to put the economy firmly back to pre-pandemic vibrancy — China’s GDP growth rate was 6 percent in 2019.

In 2021, China will pursue high-quality development, advance supply-side structural reform, and consolidate and expand the achievements of the COVID-19 response and economic and social development, among other major tasks outlined in the report.

China will further implement a three-year action plan for the reform of State-owned enterprises (SOEs), and will stabilize and expand consumption amid efforts to fully tap domestic market potential and expand domestic demand, the report said.

China supports platform enterprises in pursuing innovative development and enhancing international competitiveness, while ensuring that their business operations are well-regulated in accordance with the law, the report pointed out.

China will implement opening-up policies in a wider scope, broader areas and at a deeper level and better participate in international economic cooperation, according to the work report.

The country will push the stable development of both imports and exports, with measures to foster new business models including cross-border e-commerce, the report said.

It will increase the imports of quality products and services and ensure the success of key exhibitions including the China International Import Expo, the China Import and Export Fair, and the China International Fair for Trade in Services, the report said.

The country will further shorten the list of sectors that are off-limits for foreign investment, launch more comprehensive pilot programs in opening up the service sector, and formulate a negative list for cross-border service trade this year, the report said.

China also pledges to protect the legitimate rights and interests of foreign-invested companies in accordance with law.

The report also said that the country will speed up the negotiations on a free trade agreement with Japan and the Republic of Korea, and promote the signing of an investment treaty between China and the European Union (EU).

Also, the country is actively considering joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

(China Daily, Xinhua)