Full transcript of policy briefing of the State Council on Jan 16, 2015

Zhu Zhixin:

Fourth, people's incomes rose. Residents' income increased faster than economic growth. The national per capita disposable income of residents during the first three quarters was 14,986 yuan ($2,412), with actual growth of 8.2 percent after adjusting for inflation.

The coverage of social security expanded. By the end of September 2014, 830 million people were covered by the unified basic pension system for urban and rural residents. The medical insurance system improved and in 90 percent of the unified planning areas, medical bills within the province were settled immediately. Actual insurance reimbursement rate for severe diseases exceeded 60 percent. The building of government-subsidized housing was stepped up with 7.2 million units started construction by the end of October 2014.

Improvements were made in social undertakings such as education. We again raised the benchmark quota for public expenses in rural elementary and junior high schools. We greatly increased allocations for national student loans. The number of rural students admitted by top universities rose by 11.4 percent on an annualized basis. Residents had more access to cultural facilities. New achievements were made in the key tasks of medical and health system reform.

In 2015, China's economic development faces a complicated environment both at home and abroad. We will follow the requirements of the CPC Central Committee and the State Council, stick to the key task of seeking progress while maintaining stability, focus on raising the quality and performance of economic development, actively adapt to the new normal of economic development, keep the economy running within a reasonable range, place more emphasis upon transforming the economic growth pattern and restructuring, strive for breakthroughs in reform, highlight the driving force of innovation, strengthen risk prevention and control and improve social security to promote steady and healthy economic growth as well as a harmonious and stable society.

That's all, thank you.