Review of 2014 and plan for 2015

Over the past year， the international and domestic environments faced by China in its development have been complicated and challenging. The road to global economic recovery has been rough， with many ups and downs， and the performance of the major economies has been divergent. Downward pressure on Chinas economy has continued to mount， and we have faced an array of interwoven difficulties and challenges.

However， under the firm leadership of the Central Committee of the Communist Party of China （CPC） headed by General Secretary Xi Jinping， all our people have worked together as one， surmounted difficulties， and accomplished the years main targets for economic and social development. We have made solid progress in our endeavor to finish building a moderately prosperous society in all respects， got off to a good start in comprehensively deepening reform， embarked on a new journey to fully advance the law-based governance of China， and seen progress in the allround strengthening of Party self-conduct.

During the past year， China has， overall， achieved a stable performance while at the same time securing progress in its economic and social development. The main indication of this stable performance is that the economy operated within an appropriate range.

The economic operation

·The growth rate was steady. Chinas GDP reached 63.6 trillion yuan， an increase of 7.4% over the previous year， making China one of the fastest-growing major economies in the world.

·Employment remained robust， with 13.22 million new urban jobs created， which is higher than the figure for the previous year.

·Prices were stable， with the CPI rising by 2%.

·The underlying feature demonstrating progress is that our development is becoming better coordinated and more sustainable.

·The economic structure was upgraded. The contribution of consumption toward economic growth rose by three percentage points to 51.2%； the value added of the service sector increased from 46.9% to 48.2% of the GDP； and there was a constant stream of new industries， new types of business， and new business models. The central and western regions grew faster in economic terms than the eastern region.

·The quality of development was raised. Revenue in the general public budgets grew by 8.6%. Research and development spending accounted for more than 2% of the GDP. Energy intensity was cut by 4.8%， the biggest reduction made in recent years.

·Peoples lives were improved. Per capita disposable personal income increased by 8% in real terms nationwide， growing faster than the economy， and the per capita disposable income of rural residents grew by 9.2%， outpacing that of those living in urban areas. In rural areas， the number of people living in poverty was reduced by 12.32 million， and over 66 million more people gained access to safe drinking water. The number of outbound trips made by Chinese tourists exceeded 100 million.

·New breakthroughs were made in reform and opening up. A series of key tasks for comprehensively deepening reform were launched， and the goal of the current administration to cut the number of items that require government review by one third was achieved ahead of schedule.

Over the past year， we have faced more difficulties and challenges than anticipated. We have risen to the challenge and accomplished the following in our work.

First， on the basis of range-based macro regulation， we exercised targeted regulation to keep the economy growing steadily.

In the face of mounting downward economic pressure， we maintained strategic focus and kept our macroeconomic policy unchanged. Instead of us- ing short-term stimulus measures， we continued to develop new ideas and methods for macro regulation. We exercised targeted regulation， stimulated market activity， shored up our weak spots， and boosted the real economy. With a keen understanding of the appropriate range within which the economy needs to be operating， we adopted targeted steps to address the serious issues and structural problems hindering development. We promoted reform to gain impetus for development， made structural adjustments to produce support for development， and improved living standards to increase the potential for development. We both expanded market demand and increased effective supply， working to ensure that structural adjustments were made without compromising the growth rate.

We have been effectively implementing proactive fiscal policy and prudent monetary policy. We increased targeted tax reductions， reduced fees across the board， extended the coverage of tax relief policies to benefit more small and micro businesses， and expanded the trials to replace business tax with VAT to cover more industries. We sped up the process of making budgetary funds available for fiscal expenditures and put surplus budgetary funds to good use. By flexibly utilizing monetary policy instruments， making targeted cuts to required reserve ratios， carrying out targeted re-lending， and making asymmetric interest rate cuts， we stepped up support for weaker areas in economic and social development. Increases in loans made to small and micro businesses， and loans for agriculture， rural areas， and farmers， outdid the average increase in loans overall by 4.2 and 0.7 percentage points respectively. At the same time， regulation of the financial sector was improved and regional and systemic risks were forestalled.

Second， we deepened reform and opening up and invigorated economic and social development.

To address obstructions holding back development caused by certain systems and mechanisms， we comprehensively deepened reform， invigorat-ing the market to offset downward economic pressure. We tackled many tough issues and carried out structural reforms in the economic， political， cultural， societal， and ecological sectors.

We have made solid progress in key reforms. We formulated and implemented a coordinated plan for deepening the reform of the fiscal and tax systems. Important progress was made in the reform of the budgetary management and tax systems. The number of items receiving special transfer payments was over one third less than that of the previous year， and the proportion of transfer payments for general purposes was increased. Management of local government debt was strengthened. The floating ranges of interest rates on deposits and exchange rates were expanded. New steps were taken in the trials to establish private banks. The Shanghai-Hong Kong Stock Connect was launched on a trial basis. The scope for using foreign exchange reserves and insurance funds was broadened. Price reforms in energy， transport， environmental protection， and communications were accelerated. We launched reforms to the system for managing research and development funding， the school examination and enrollment systems， the household registration system， and the pension system for employees of Party and government offices and public institutions.

We drew on further opening up to boost reform and development. We expanded the China （Shanghai） Pilot Free Trade Zone and established similar zones in Guangdong， Tianjin， and Fujian. We worked to keep exports stable and increase imports， and Chinas international market share in exports continued to increase. Foreign direct investment actually made in China reached$119.6 billion， making the country the worlds top destination for foreign direct investment. Chinas outward foreign direct investment reached $102.9 billion， meaning that outward investment has come to draw even with inward investment. Chinas free trade zone arrangements with Iceland and Switzerland were officially launched， and China completed substantive talks on free trade zones with the Republic of Korea and Australia.

Third， we stepped up structural adjustments to make Chinas development more sustainable.

We channeled great energy into making adjustments in the structure of industry. We focused on fostering new areas of growth by encouraging the service sector to develop more quickly， and supporting the development of strategic emerging industries， including the mobile Internet industry， the integrated circuits industry， high-end equipment manufacturing， and the new-energy vehicles industry. Internet-based finance rose swiftly to prominence. E-commerce， logistics， express delivery services and other emerging businesses developed rapidly.

Fourth， we worked on developing a tightly woven and sturdy safety net to secure and improve living standards.

We continued to put people first， sustaining increases to spending in areas that are important to improving standards of living.

Fifth， we have been developing new forms of social governance， and promoting social harmony and stability.

Over the past year， Chinese diplomacy has been fruitful. President Xi Jinping and other state leaders visited many countries and attended major international events， including the G20 Leaders Summit， the BRICS Leaders Meeting， the Shanghai Cooperation Organization Summit， the East Asian leaders meetings on cooperation， the Asia-Europe Meeting， the Annual Meeting of the New Champions 2014 in Tianjin， and the World Economic Forum annual meeting 2015 in Davos， Switzerland. China hosted the 22nd APEC Economic Leaders Meeting， the Fourth Summit of the Conference on Interaction and Confidence Building Measures in Asia， and the Boao Forum for Asia.

China is the largest developing country in the world； it is still in the primary stage of socialism， where it will remain for a long time to come. At this stage， development is of primary importance to China； it is both the basis for and the key to solving every problem we face. In order to defuse problems and risks， avoid falling into the “middleincome trap，” and achieve modernization， China must rely on development， and development requires an appropriate growth rate.

At the same time， Chinas economic development has entered a new normal. Our country is in a crucial period during which challenges need to be overcome and problems need to be resolved. Systemic， institutional， and structural problems have become “tigers in the road” holding up development. Without deepening reform and making economic structural adjustments， we will have a difficult time sustaining steady and sound development.

We must be adamant in pursuing economic development as our central task and make a thorough job of development as the top priority for ensuring the governance and revitalization of the country. We must continue to promote development in a sound and balanced way through reform and speed up the transformation of the growth model so as to achieve quality， efficient， and sustainable development.

At present， the world economy is undergoing profound adjustment， its recovery lacks drive， the influence of geopolitics is increasing， and there are a greater number of uncertainties at play. Promoting growth， creating jobs， and making structural adjustments have become common goals for the international community. With downward pressure on Chinas economy building and deep-seated problems in development surfacing， the difficulties we are to encounter in the year ahead may be even more formidable than those of last year.

On the other hand， China is still in an important period of strategic opportunity during which great progress can be made in development. Our countrys development has enormous potential and is hugely resilient， and we have ample room for growth. Steady progress is being made in the development of new types of industrialization， applications of information technologies， urbanization， and agricultural modernization； the foundation underpinning development is becoming stronger by the day； benefits of reform are being delivered as we speak； and we have gained much experience in conducting macro regulation. We must strengthen our awareness of latent problems while remaining fully confident and taking an active approach to development.

This coming year will be crucial for comprehensively deepening reform， the first year for fully advancing the law-based governance of the country， and a critical year for ensuring steady growth and making structural adjustments.

The overall requirements for the governments work this year are as follows：

·hold high the great banner of socialism with Chinese characteristics；

·follow the guidance of Deng Xiaoping Theory， the important thought of Three Represents， and the Scientific Outlook on Development；

·comprehensively implement the guiding principles of the 18th National Party Congress and the third and fourth plenary sessions of the 18th CPC Central Committee；

·put into practice the guiding principles from General Secretary Xi Jinpings major speeches；

·act in accordance with the Four-Pronged Comprehensive Strategy；*

·actively adapt to and guide the new normal in Chinas economic development；

·adhere to the general principle of seeking progress while keeping performance stable；

·ensure that the economy performs within an appropriate range；

·focus on strengthening the quality and benefits of economic development；

·give greater priority to transforming the growth model and making structural adjustments；

·tackle tough problems of reform head on；

·pursue innovation-driven development；

·strengthen risk prevention and control；

·strengthen safeguards for peoples standard of living；

·get the right balance between carrying out reform， pursuing development， and ensuring stability；

·promote all-round socialist economic， political， cultural， social， and ecological advancement；

·achieve steady and sound economic development and ensure social harmony and stability.

Keeping in mind these requirements， we must focus on achieving the dual objectives of maintaining a medium-high rate of growth and moving toward a medium-high level of development. We need to maintain policy continuity and keep expectations stable while moving forward with reform and structural adjustment， and we need to develop twin engines to drive development： popular entrepreneurship and innovation， paired with increased supplies of public goods and services. This will ensure that our growth rate is adjusted without weakening momentum and that growth in quantity is underpinned by greater quality， thereby achieving a better-quality， more efficient， upgraded economy.

The target growth rate of approximately 7% takes into consideration what is needed and what is possible. This target is both aligned with our goal of finishing building a moderately prosperous society in all respects and is appropriate in terms of the need to grow and upgrade our economy. It is also in keeping with the objective laws of development as well as conditions in China. If Chinas economy can grow at this rate for a relatively long time， we will secure a more solid material foundation for modernization.

At the same time， the aim of maintaining stable growth is to ensure employment. As the service sector becomes larger， the number of small and micro businesses grows， and the economy gains in size， a growth rate of approximately 7% will ensure ample employment. Local governments need to set targets based on local conditions， be fully motivated to make progress， and tap into their full potential so as to deliver better outcomes.

To deliver a good performance in the work of the government this year， we need to concentrate on the following three areas：

First， we need to ensure continuity in and make improvements to macroeconomic policies.

We will continue to implement proactive fiscal policy and prudent monetary policy. We will pay greater attention to anticipatory adjustments， fine-tuning， and targeted regulation. We will put both existing and additional financial resources to good use， focusing particularly on strengthening weak spots. We will improve micro-level vitality to underpin macroeconomic stability， explore new ways of achieving supply to boost demand， and balance total supply and demand through structural adjustments to ensure the economy performs within an appropriate range.

Our proactive fiscal policy must sustain the mo-mentum of economic growth and increase economic returns. The government budget deficit for 2015 is projected to be 1.62 trillion yuan， an increase of 270 billion yuan over last year， which means that the deficit to GDP ratio will rise from last years 2.1% to 2.3%. Of this amount， the central government deficit will account for 1.12 trillion yuan， an increase of 170 billion yuan， and local government deficit will account for 500 billion yuan， an increase of 100 billion yuan. We need to find the right balance between managing debt and maintaining steady growth. We will develop and improve mechanisms for local governments to secure financing through bond issuance. We will allow local governments to issue an appropriate amount of special bonds， ensure continued financing for eligible projects already under construction， and guard against and defuse risks and latent dangers. We will improve the mix of budgetary spending， redouble our efforts to put government funds on hand into use， and strengthen the effectiveness of government spending. We will continue to make structural tax reductions and cut fees across the board so as to further lighten the burden on enterprises， particularly small and micro businesses.

We will pursue prudent and balanced monetary policy. The M2 money supply is forecasted to grow by around 12% in 2015， but the actual growth may be slightly higher than this projection depending on the needs of economic development. We will work to strengthen and improve macroprudential regulation， adopt a flexible approach in our use of monetary policy tools including open market operations， interest rates， required reserve ratios， and re-lending， and maintain steady growth in the supply of money and credit as well as aggregate financing in the economy. We will speed up the turnover of funds， improve the credit structure， increase the proportion of direct financing to total financing， and reduce the cost of financing， thereby allowing more financial resources to be channeled into the real economy.

Second， we need to maintain a proper balance between ensuring steady growth and making structural adjustments.

In its current stage of development， China has to simultaneously deal with the slowdown in economic growth， make difficult structural adjustments， and absorb the effects of previous economic stimulus policies. As resource-related and environmental constraints grow and costs for labor and other factors of production rise， a model of development that draws on high levels of investment and energy consumption and is heavily driven by quantitative expansion becomes difficult to sustain. We must therefore improve the economic structure while ensuring steady growth. The growth rate must be kept steady to ensure that economic performance is stable， and that employment and personal incomes carry on increasing， thus creating a favorable environment for making structural adjustments and transforming the growth model.

At the same time， structural adjustments must be made to consolidate the foundation for ensuring steady growth. 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， improve the overall structure of economic growth， and work harder to foster new areas of growth and growth poles. With these efforts， we can ensure that economic upgrading and development reinforce each other.

Third， we need to nurture and hasten the birth of a new force for driving economic and social development.

Reform and opening up is crucial for driving development. We must focus on economic structural reform as we comprehensively deepen reform， taking all things into consideration in planning， working solidly to deliver concrete results， making new breakthroughs in areas that can boost development as a whole， and strengthening new momentum to drive development.

·We will do more to streamline administration and delegate more powers to lower-level governments and to society in general while improving regulation.

This year， we will delegate the power or cancel the requirement for government review for more items， cancel all non-administrative review， and establish a system for exercising well-regulated management over the government review process. We will deepen reform of the business system； further simplify the process for capital registration； take gradual steps to integrate the business license， the organization code certificate， and the certificate of taxation registration into one certificate； and overhaul and regulate intermediary services. We will draw up a negative list for market access， ensure that provincial-level governments make their lists of powers and responsibilities open to the public， and make sure that anything the law does not authorize is not done， while all duties and functions assigned by law are performed.

·We will take multiple measures to reform the investment and financing systems.

We will substantially reduce the number of investment projects that require government review， delegate more powers of review to lower-level governments， significantly streamline the need for preliminary review for investment projects， and conduct project reviews online. We will greatly relax market access for private investment and encourage the use of private capital to set up equity funds. The government will guide nongovernmental investments toward key projects by subsidizing investments， injecting capital， and establishing funds. We will deepen reform of railway investment and financing by making good use of railway development funds. We will actively promote models of cooperation between government and nongovernmental capital in developing infrastructure and public utilities.

·We will take timely action to accelerate price reform.

This reform is aimed at ensuring the market plays the decisive role in allocating resources and significantly reducing the number of categories and items of goods and services for which prices are set by the government. In principle， we will lift pricing controls over all goods and services that can viably compete in markets.

·We will ensure that progress is made in the reform of the fiscal and tax systems.

We will put in place a comprehensive， wellregulated， open， and transparent budgeting system. With the exception of cases where classified information is involved， all central and local government departments must release their budgets and final accounts for public oversight. We will increase the percentage of funds transferred from the budgets for state capital operations to general public budgets. We will introduce medium-term fiscal planning. We will design effective measures to make good use of government funds at hand.

We will devote serious energy to completing work to replace business tax with VAT across the board， adjust and improve policies on consumption tax， and extend price-based resource taxes to cover more types of resources. We will submit a proposal to the NPC Standing Committee on revising the Law on the Administration of Tax Collection.

We will reform the transfer payments system， clearly define the respective powers and spending responsibilities of the central and local governments， and make appropriate adjustments to the division of revenue between them.

·We will move ahead with financial reform to better serve the real economy.

We will encourage qualified private investors to establish， in accordance with the law， small and medium-sized banks and other financial institutions； there will be no quota imposed on them， and approval will be granted as long as all required conditions are met. We will deepen reform of rural credit cooperatives， and keep their status as legal persons in their counties stable. We will ensure development-oriented and policy-backed financial institutions function effectively in increasing the supply of public goods.

A deposit insurance system will be established. We will further liberalize interest rates and improve the central banks framework for their regulation. We will work to keep the RMB exchange rate at an appropriate and balanced level and allow it to float more freely. We will make steady progress in realizing the convertibility of the RMB capital accounts， expand the use of the RMB internationally， accelerate the establishment of a cross-border payment system for the RMB， improve the worldwide clearing system for the RMB， pilot private overseas investment， and launch the Shenzhen-Hong Kong Stock Connect on a trial basis at an appropriate time.

We will strengthen the multilevel capital market and implement the reform to introduce a system of registration for issuing stocks. We will develop regional equity markets to serve small and medium-sized enterprises， carry out trials of equity crowdfunding， encourage the securitization of credit assets， prompt an expansion of the issuance of corporate bonds， and develop the financial derivatives market. We will launch insurance to cover major disasters and commercial pension schemes that allow for deferred payment of individual income tax.

We will explore new approaches to financial regulation to prevent and diffuse financial risks. We will channel great energy into developing inclusive finance and ensuring equitable access to financial services for all market entities.

·We will deepen the reform of state-owned enterprises （SOEs） and state capital.

We will push forward with targeted reform of SOEs on the basis of having clearly defined their functions. We will move more swiftly in carrying out trials on establishing state capital investment companies and operating companies， create a market-based platform for state capital operations， and improve their performance.

We will take systematic steps to implement the reform of introducing mixed ownership to SOEs， and both encourage and regulate equity investment made by non-state capital in SOE investment projects. We will accelerate structural reform of the electricity， oil， and natural gas industries. We will work， through multiple channels， to relieve SOEs of their obligation to operate social programs and help them solve longstanding problems， while at the same time ensuring that the legitimate rights and interests of workers are protected. We will ensure that SOEs improve their modern corporate structure， and incentive and restraint mechanisms for their executives are reformed and strengthened. We will strengthen regulation of state-owned assets and guard against their loss， and ensure that SOEs improve their performance.

The non-public sector is an important component of Chinas economy. We will remain firmly committed to encouraging， supporting， and guiding the development of this sector， work to enable entrepreneurs to give full expression to their talent， put into effect all policies and measures encouraging the development of the private sector， strengthen the vitality of enterprises under all types of ownership， and protect the property rights of all types of enterprise-legal persons in accordance with the law.

We will continue to push ahead with reforms in science， technology， education， culture， medical and health care， pensions， public institutions， and the housing provident fund. Development needs to be driven by reform， and the people are expecting the real benefits reform delivers. We must work hard to make sure that reform boosts development and benefits our people.

Opening up is itself a reform. We must carry out a new round of high-quality opening up， move more swiftly in building a new open economy， and maintain momentum in development and in international competition by pressing ahead with opening up.

·We will transform and upgrade Chinas foreign trade.

We will improve the mechanism for sharing the cost of export tax rebates between the central and local governments， with the central government paying all the increase for the benefit of local governments and exporting enterprises beginning in 2015. We will overhaul and regulate charges for imports and exports， and establish and release a complete list of such charges. We will implement policies and measures to enable Chinas foreign trade to develop new competitive edges， facilitate the transformation of processing trade， develop market purchase trade and a comprehensive service platform for foreign trade， expand comprehensive trials in cross-border e-commerce， turn more cities into trendsetters in undertaking services outsourced by other countries， and increase the share of service trade in Chinas foreign trade. We will adopt a more active import policy to increase the import of advanced technology， key equipment， and important parts and components.

·We will take a more active， more effective approach to making use of foreign capital.

We will revise the Catalogue for the Guidance of Industries for Foreign Investment. We will focus on making the service and manufacturing sectors even more open by halving the number of industries in which foreign investment is restricted. We will introduce， across the board， the management system under which foreign investment projects generally need only to be placed on record， with government review required in only a limited number of cases. We will delegate to lower-level governments the power of review for a large number of projects that are encouraged by the state； and work actively to explore the management model of pre-establishment national treatment plus a negative list. We will work to improve the foreign investment regulatory system， revise laws concerning foreign investment， and create a stable， fair， transparent， and predictable business environment.

·We will speed up the implementation of the “go global” strategy.

We will encourage Chinese companies to participate in overseas infrastructure development projects and engage in cooperation with their foreign counterparts in building up production capacity. We will work to increase the international market share of Chinese railway， electric power， communications， engineering machinery， automobile， aircraft， electronics， and other equipment， and encourage the metallurgical， building materials， and other industries to invest overseas. Outbound investment will be mainly managed on a record-keeping basis. We will scale up export credit insurance to provide export financing insurance for all insurable complete sets of large equipment.

We will broaden the channels for using foreign exchange reserves， provide better financial services， information services， legal services， and consulate protection to Chinese firms investing abroad， guard against risk， and strengthen our capacity to protect the rights and interests of Chinese enterprises overseas. We are confident that these steps will enable Chinese companies to go global and go steadily， emerging stronger in international competition.

·We will foster a new environment in all-round opening up.

We will work with the relevant countries in developing the Silk Road Economic Belt and the 21st Century Maritime Silk Road. We will move faster to strengthen infrastructure connectivity with Chinas neighbors， sim- plify customs clearance procedures， and build international logistics gateways. We will work to build the China-Pakistan Economic Corridor and the Bangladesh-China-India-Myanmar Economic Corridor. We will make China s interior and border areas more open to the outside world， promote the innovation-driven development of economic and technological development zones， and upgrade both border and cross-border economic cooperation areas. We will work actively to develop pilot free trade zones in Shanghai， Guangdong， Tianjin， and Fujian， and extend good practices developed in these zones to the rest of the country so that such zones become leading reform and opening up areas， each with its own distinctive features.

·We will promote multilateral， bilateral， and regional opening up and cooperation.

We will uphold multilateral trade systems， work to promote expansion of the Information Technology Agreement， and take an active part in international talks in areas such as environmental products and government procurement. We will move faster to implement the strategy of developing free trade zones， ensuring that agreements on free trade zones with the Republic of Korea and Australia are signed as soon as possible； stepping up negotiations on the China-Japan-RoK Free Trade Zone； working for progress in talks on free trade zones with the Gulf Cooperation Council and Israel； endeavoring to complete the talks on upgrading the China-ASEAN Free Trade Zone and on establishing the Regional Comprehensive Economic Partnership； and working to build the AsiaPacific Free Trade Zone. We will continue negotiations on investment agreements with the United States and the European Union. As a responsible and enterprising nation， China champions the vision of promoting mutually beneficial development， boosting the global economy， and encouraging economic globalization.

Steady growth and structural adjustment complement each other. We must work hard to ensure that the economy performs within an appropriate range while promoting economic transformation and upgrading， and maintaining sustainable economic growth.

We will move faster to foster growth areas of consumption.

We will press ahead with the development of the Yangtze Economic Belt， working step by step to launch major projects including upgrading the areas major waterways and building docks and quays along the Yangtze River to create an integrated， multidimensional transport corridor. Industrial relocation demonstration zones will be built along the belt to guide the orderly relocation of industries from the east to the west. We will accelerate the transformation and upgrading of resource-depleted cities. We will step up efforts to develop major development zones in the central and western regions and ensure cooperation is deepened in the pan-Pearl River Delta and other regions.

We will provide subsidies and accelerate equipment depreciation to push forward the technological upgrading of traditional industries. We will ensure the development of some industries while restricting the growth of others， cut overcapacity， support business acquisitions and restructuring， and let market competition determine which businesses survive. We will promote the extensive application of information technologies in industrialization， develop and utilize networking， digitalization， and smart technologies， and work to develop certain key areas first and make breakthroughs in these areas.

Emerging industries and new types of businesses are areas of intense competition. We will launch major projects to develop high-end equipment， information networks， integrated circuits， new energy， new materials， biomedicines， aero engines， and gas turbines， helping a number of emerging industries to become leading ones.

To make innovation deliver， effective allocation of science and technology resources is crucial. We need to reform the management of science and technology plans funded by the central government to establish an open and unified national science and technology management platform. With the focus on supporting basic research， research in cutting-edge technologies， and key technologies that have a broad application， the government will encourage original innovation and move faster to launch major national science and technology projects. We will enable open access to the countrys major science and research infrastructure facilities as well as large-scale or costly research equipment.