Some other projected targets include:
- Creation of over 11 million new urban jobs.
- Surveyed urban unemployment rate under 5.5 percent.
- CPI to increase at around 3 percent.
- Deficit-to-GDP ratio at around 3.2 percent.
- Drop of around 3 percent in energy consumption per unit of GDP.
- Grain output of over 650 million metric tons.
In 2021, China will pursue high-quality development, advance supply-side structural reform, and consolidate and expand the achievements of the COVID-19 response and economic and social development, among other major tasks outlined in the report.
"In 2021, China will continue to face many development risks and challenges, but the economic fundamentals that will sustain long-term growth remain unchanged," Li said, noting the country has confidence in its economic recovery.