Mr. Li said the government aims to contain consumer price inflation within 3.5%, unchanged from last year. Inflation in 2013 stayed well within the government's tolerance, with the consumer price index up just 2.6%.
Mr. Li also set a 13% target for the growth of M2, China's broadest measure of money supply, unchanged from last year. In 2013 the measure grew 13.6%, slightly faster than the government planned.
Mr. Li reiterated Beijing's calls to continue to liberalize interest rates, expand the trading band for the tightly controlled Chinese currency and to move toward capital-account convertibility. He also reiterated calls for China to implement a bank-deposit insurance system, a prerequisite for easing the country's capital controls.
The work report targeted a 14.5% rise in retail sales in 2014 and a 17.5% increase in fixed-asset investment.