CCTV News (News Network): The Third Session of the 14th National People's Congress held a press conference on March 6. Relevant leaders from the National Development and Reform Commission, the Ministry of Finance, the Ministry of Commerce, the People's Bank of China, and the China Securities Regulatory Commission answered questions from Chinese and foreign journalists respectively.

In answering questions about China's economic situation this year, Zheng Zhanjie, director of the National Development and Reform Commission, said that this year, we will continue to increase our efforts in four aspects: boosting residents' consumption, expanding effective investment, building a modern industrial system, and deepening reform and opening up.

What aspects does a more positive fiscal policy reflect? Minister of Finance Lan Fo'an introduced that the deficit rate this year is arranged at 4%, with the deficit scale increasing by 1.6 trillion yuan compared with last year; the scale of new government bonds increased by 2.9 trillion yuan compared with last year; the central government has allocated 10.34 trillion yuan to local government transfer payments, an increase of 8.4%; and the protection of key areas is also more powerful.

What policy measures are there in terms of expanding consumption this year? Minister of Commerce Wang Wentao said that on the basis of continuing last year's old-for-new policy, this year, we will focus on increasing efforts to expand and upgrade the people. At the same time, we must expand service consumption in terms of opening up to the outside world and liberalization.

People's Bank of China Governor Pan Gongsheng introduced that this year, financial support for important strategies, key areas and weak links will be increased, further expand the scale of re-lending for scientific and technological innovation and technological transformation, and study and create new structural monetary policy tools.

Wu Qing, Chairman of the China Securities Regulatory Commission, introduced that this year we must further enhance the inclusiveness of multi-level markets and promote the gathering of market resources in new industries, new business forms and new technology fields.

At the press conference, the relevant person in charge also answered reporters' questions on local debt, new quality productivity, foreign trade and other issues.