Chinese Premier delivers govt work report (2)

China to maintain proactive fiscal, prudent monetary policies: report

China will continue to implement a proactive fiscal policy and a prudent monetary policy, Premier Li Keqiang said Wednesday at the opening of the annual session of the National People's Congress (NPC), Chian's top legislature.

"We will improve the macro-control policy framework, maintain a lower limit to ensure stable growth and employment and an upper limit to keep a cap on inflation, and continue to implement a proactive fiscal policy and a prudent monetary policy," he said, when delivering a government work report to the lawmakers. >>>

China to allow private capital into more state projects

China will speed up the development of mixed-ownership economy by letting non-state capital into more state projects, including those in oil, railways and telecoms, according to a government work report delivered by Premier Li Keqiang on Wednesday.

"We will formulate measures for non-state capital to participate in investment projects of central government enterprises," Li said at the opening of the annual session of the National People's Congress, China's top legislature. >>>

China to establish deposit insurance system

China is to establish a deposit insurance system, a key move in carrying out financial reform, according to a government work report delivered by Premier Li Keqiang to the annual parliamentary session on Wednesday.

"We will establish a deposit insurance system and improve the risk disposal mechanism of financial institutions," said Li, at the opening of the annual session of the National People's Congress, the country's top legislature. >>>

China to promote healthy development of Internet finance

China will promote the healthy development of its burgeoning Internet finance, according to a government work report delivered by Premier Li Keqiang on Wednesday.

"We will promote the healthy development of Internet banking," Li said, promising also to improve the mechanism for coordinating financial oversight and to keep a close watch on the cross-border flow of capital. >>>

China's parliament convenes; reform cited as "powerful impetus"

Chinese Premier Li Keqiang, in his first government work report, pledged Wednesday to make breakthroughs in reform as the country seeks growth impetus in face of downward pressure on its economy.

Li's report, delivered at the opening meeting of the national legislature's annual session, set this year's economic growth target at 7.5 percent, the same as last year's target and slightly lower than the 7.7-percent actual growth in 2013. >>>