Page 37 - REPORT ON THE IMPLEMENTATION OF THE 2022 PLAN FOR NATIONAL ECONOMIC AND SOCIAL EVELOPMENT AND ON THE 2023 DRAFT PLAN FOR NATIONAL ECONOMIC AND SOCIAL EVELOPMENT

workforce, including 11.58 million students who will be graduating from colleges.
Maintaining a stable employment rate will require around 12 million new urban

jobs.
While employment will remain a big challenge, the above projected target for
the surveyed urban unemployment rate demonstrates our employment-first policy
focus and will help keep public expectations stable. With the continued recovery of
the Chinese economy in 2023 and our more thorough and effective implementation

of policies for stabilizing employment, we can achieve this target.
 A CPI increase of approximately 3%
Given imported inflation and the carryover effect on prices from 2022, China is
likely to continue to face upward pressure on CPI in 2023. However, China has an

overall ample supply of agricultural and industrial products, and our systems for
ensuring supply and keeping prices stable have become more mature, so we have a
solid foundation for stable prices. A projected CPI increase of around 3% will not
only ensure consistency in policies and goals and stabilize market expectations, but
it will also give us room to maneuver.

 Growth in personal income that is generally in step with economic growth
This is an essential requirement of our people-centered philosophy of
development and an important foundation for boosting spending power,
expanding domestic demand, and achieving stable growth. With the continued

implementation of policies and measures to improve the income distribution
system, expand the size of the middle-income group, and increase the incomes of
low-income earners, this year, personal income can be expected to grow in step
with economic growth.
 More stable and higher-quality imports and exports and a basic equilibrium in the
balance of payments

This year, there will be a slowdown in the growth of global economy and trade,
and competition in international trade and for foreign investment will intensify.
Since maintaining a basic equilibrium in the balance of payments and keeping
foreign trade and investment stable are important pillars for our economic growth,

we must put more energy into improving the structure of foreign trade while
keeping its scale stable, and we must redouble efforts to attract and utilize foreign
investment. As the strengths of our enormous market and complete industrial
chains grow more evident, as our economic and trade cooperation with regional
partners continues to grow, as our foreign investment environment continues to

improve, and as new forms and models of foreign trade thrive, we can, with hard
36