Premier Wen delivers government work report

March 5, the fifth meeting of the 11th National People’s Congress opened at the Great Hall of the People in Beijing. Chinese Premier Wen Jiabao delivers the government work report during the opening meeting.

According to the report, the government is projecting a deficit of 800 billion yuan (about 127 billion U.S. dollars), a decrease to around 1.5 percent of gross domestic product (GDP), which consists of 550 billion yuan in central government deficit and 250 billion yuan of bonds issued on behalf of local governments.

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