March 5, 2015 / 1:00 AM / 5 years ago

China's National People's Congress annual session

BEIJING (Reuters) - China’s parliament, the National People’s Congress, opens its annual session on Thursday.

Following are highlights from Premier Li Keqiang’s prepared speech to be delivered at the start of the meeting, as well as highlights from reports from the Ministry of Finance and the National Development and Reform Commission.

WORK REPORT FROM PREMIER LI KEQIANG ECONOMY

- China to target economic growth of around 7 percent in 2015.

- Consumer price inflation target put at around 3 percent.

- Budget deficit for 2015 set at 2.3 pct of GDP.

- M2 growth target put at around 12 pct.

- China aims to create 10 million new jobs in 2015.

- To ensure jobless rate does not exceed 4.5 pct this year.

- Says economy faces greater difficulties in 2015 vs 2014.

- To improve local government debt-raising mechanism.

- To deepen reforms of state-owned enterprises.

- To implement proactive fiscal, prudent monetary policies.

- To cut carbon intensity by at least 3.1 pct.

REPORT FROM NATIONAL DEVELOPMENT AND REFORM COMMISSION

- Says 2015 FDI will be $120 bln.

- Sees non-financial outbound direct investment at $113 bln.

- To target total trade growth of around 6 pct in 2015.

- To target fixed-asset investment growth of 15 pct.

- To replace coal usage with alternative energy sources in heavily polluted areas

- Will encourage more mergers, shut outdated capacity in oversupplied sectors.

Reporting by Kevin Yao, Koh Gui Qing, Judy Hua, Kathy Chen, Gerry Shih and Dominique Patton; Editing by John Mair and Jason Subler

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