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Economy

Two Sessions Let's Talk |+50 yuan! Small Figures and Great Confidence in the Chinese Economy

2024-03-08   

As the task book, construction drawings, and policy list for the new year, the government work report contains many "hard tricks" to boost energy, energy, and energy. But upon closer inspection, the government work report also contains "small red envelopes" such as "raising 20 yuan" and "raising 30 yuan", which reflect the pulse of society and public opinion, and also reveal the confidence and confidence of China's economic development. The major goals include "key small matters" and "a GDP growth of about 5%" - this year's government work report proposes the expected economic growth target for China in 2024. This goal takes into account the needs of promoting employment and income growth, preventing and resolving risks, and is in line with the goals of the 14th Five Year Plan and the basic realization of modernization. It also takes into account the potential for economic growth and supporting conditions, reflecting the requirements of being proactive and striving for progress. From economic growth to stable employment, from food security to ecological and environmental protection, more economic development goals have also been laid out in government work reports, which are both national plans and people's livelihoods. The hard truth of high-quality development appears vivid and specific in each specific deployment. Beyond the grand goals, the two "small red envelopes" mentioned in this government report, which concern 1.4 billion Chinese people with access to care for their elderly and medical care, appear warm and considerate. One is to increase the monthly minimum standard of basic pension for urban and rural residents by 20 yuan. "More than 170 million elderly people across the country are receiving urban and rural resident pension insurance benefits. This year, the minimum standard has been raised by 20 yuan, an increase of 19.4%, which is the largest increase in recent years." Huang Shouhong, the head of the drafting group of the "Government Work Report" and director of the State Council Research Office, said. "From the perspective of the national average level of pension for urban and rural residents, the amount that each person can receive per month is only just over 200 yuan, and an additional 20 yuan is equivalent to a 10% increase." Zhang Dong, Associate Professor at the School of Humanities and Development of China Agricultural University and Executive Deputy Secretary General of the 50 People Forum on Pension Finance, pointed out that this basically reaches the proportion of the rapid increase in urban employee pension in the past, and the increase is quite significant. Secondly, the per capita financial subsidy standard for resident medical insurance will be increased by 30 yuan. The financial subsidies of medical insurance are related to the level of employee medical insurance coverage. As of the end of 2022, the number of participants in the national basic medical insurance exceeded 1.34 billion, with a coverage rate of over 95%. Huang Shouhong said, "This year, we will continue to increase financial subsidies for basic medical care, and increase the standard of financial subsidies for urban and rural residents' medical insurance by 30 yuan, reaching 670 yuan per person per year." "Increasing financial subsidies for resident medical insurance can improve the conditions of resident medical insurance, promote public health, and enhance social stability, which is a measure that is in line with social development and the interests of the people." Wang Zengwen, Vice Dean of the School of Political and Public Management and Professor of Social Security at Wuhan University, said. Where does the confidence of "+50 yuan" come from? 20 yuan plus 30 yuan, a total of 50 yuan. It may not sound big, but if we encounter a huge population of 1.4 billion, it can be said that every 1 yuan increase in subsidies and standards is a big number. "Improving people's well-being is the fundamental goal of development."

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