Full text of Chinese Premier Li's speech at New Champions 2017 annual meeting opening ceremony

昨天傍晚，我會見施瓦布主席及部分與會嘉賓。我們站在平臺上眺望遠處，看到青山被薄霧籠罩，時隱時現。但這只是暫時的，薄霧終會散去，青山則長久屹立。我由此聯想到，當前的世界經濟何嘗不是如此。一方面，世界經濟和貿易出現回暖跡象，新一輪工業革命使人們看到新的希望，經濟全球化是不可逆轉的趨勢；另一方面，世界經濟復蘇動力不足，結構性問題尚未根本解決，逆全球化傾向有所抬頭，地緣政治風險有所上升。如果把青山喻為世界經濟穩定性，薄霧喻為不確定性，咬定青山不放松，就能用穩定性戰勝不確定性。

In his keynote speech at the Annual Meeting of the World Economic Forum early this year, President Xi Jinping elaborated on China's firm commitment to economic globalization and free trade, which has been widely acclaimed by the international community. The theme of this annual meeting, "Achieving Inclusive Growth in the Fourth Industrial Revolution", is highly relevant to our times.

在年初的世界經濟論壇年會上，習近平主席發表主旨演講，深刻闡述了中國堅定支援經濟全球化、維護自由貿易的主張，贏得國際社會廣泛認同。本次論壇以“在第四次工業革命中實現包容性增長”為主題，具有很強的現實針對性。

A review of world history shows that each of the industrial revolutions has brought about leapfrogging expansion of productivity and huge progress of civilizations in general. This round of industrial revolution, fostered in the era of economic globalization, is changing our world in a way unseen before in terms of speed, scope and depth of transformation, giving a strong boost to economic growth of all countries. However, if not managed properly, this round of change may also lead to lack of inclusiveness in growth. Some people may benefit more than others, traditional industries and jobs may take a hit, and returns on capital and labor may diverge further. Addressing these issues well is of both social and economic importance. Lack of inclusiveness will render part of the workforce and resources idle, and deepen the divide within society and between regions. This would hinder the tapping of market potential, aggravate the social divide, and make growth unsustainable. In contrast, inclusive growth makes societies fairer and development more widely beneficial. Realizing inclusiveness and achieving sustainable development are therefore two sides of the same coin.

縱觀世界歷史，每一次工業革命都推動了社會生産力大躍升、人類文明大進步。這一輪工業革命，是在經濟全球化背景下孕育興起的，正以前所未有的速度、廣度、深度改變著世界，為各國經濟增長提供了強勁動力。但如果舉措不當，也會帶來增長包容性不足問題。比如，一部分人受益多、另一部分人受益少，傳統産業和就業受到衝擊，資本回報和勞動回報差距加大。解決好這些問題，既具有社會意義，也具有經濟意義。增長包容性不夠，會導致部分勞動力和資源閒置、階層和區域分化，市場潛力難以充分發揮，社會分化凸顯，經濟增長也難以持續。實現包容性增長，就是增強社會公平性和發展普惠性，就是實現可持續增長。

Compared with the previous times, the new industrial revolution offers greater promise in fostering inclusive growth. Driven by Internet, digital and intelligent technologies, it has created new supply and demand, greatly expanded development space and brought unprecedented opportunities for equal participation. Now, it is much easier for anyone to log on the Internet to start a business, pursue innovation and create wealth. SMEs can get on the same starting point as big companies and foster new champions through integrated innovation. Developing countries can better leverage their comparative strengths and latecomer advantage. The key is to take vigorous and effective steps to turn these possibilities into reality and help more people, businesses and nations achieve greater progress in the new industrial revolution.

與以往的工業革命相比，在新工業革命中實現包容性增長，具有更大的可能性。以網絡化、數字化、智能化為代表的新工業革命，不僅創造了新的供給與需求，大大拓展了發展空間，也給各方帶來前所未有的機會、平等參與的機會。每個人都可借助互聯網，更加便利地創業創新創富。中小企業可以與大企業站在同一起跑線上，融通發展催生更多新領軍者。發展中國家也可以更好發揮比較優勢和後發優勢。關鍵是要採取有力有效的舉措，把這些可能變為現實，使更多的人、企業、國家在新工業革命中實現更好發展。

Promoting inclusive growth in our times calls for upholding economic globalization, which has greatly facilitated the flow of goods, capital and people, and provided bigger markets for producers and more choices for consumers than ever before. All countries are beneficiaries in this process. At the same time, countries, both developing and developed, have encountered challenges of different forms in adapting to economic globalization. However, these problems cannot be blamed on economic globalization per se. What is important is how to adapt or respond to it. To give an analogy, one cannot blame the uneven ground for his sprained ankle and stop walking altogether. Instead, we must better adapt to and steer economic globalization forward, uphold the authority and efficacy of the multilateral system, and promote investment and trade liberalization and facilitation. In the meantime, we need to reform and improve international economic and trade rules to secure equal rights, equal opportunities and equal rules for all countries in international economic cooperation.

當今時代，推動包容性增長，必須維護經濟全球化。經濟全球化極大促進了商品、資本、人員流動，讓生産者有了更大市場、消費者有了更多選擇，世界各國都能從中受益。但在經濟全球化面前，無論是發達國家還是發展中國家，都遇到了這樣那樣的不適應問題。這些問題的根源不在于經濟全球化本身，主要在于如何適應或應對。我們不能走路崴了腳，就怪地不平，不再往前走了。應更好適應和引導經濟全球化，維護多邊體制權威性和有效性，促進貿易和投資自由化便利化，同時改革和完善國際經貿規則，保障各國在國際經濟合作中權利平等、機會平等、規則平等。

Some people talk about the question of "fair trade". In fact, free trade, as the underlying driving force for economic globalization, is the prerequisite for fair trade. Restricting free trade will not make trade fairer. Fairness is an inherent requirement of free trade, and unfair trade will not be sustainable. When problems and trade disputes arise, it is advisable to take into account the national conditions of the other side, conduct consultation on the basis of equality and mutual accommodation, seek areas of converging and balanced interests and find win-win solutions through complementarity. All countries should be treated equally under international and multilateral rules. Imposing unilateral rules on others is much less advisable than pursuing all-win outcomes.

現在有人在討論“公平貿易”問題。事實上，自由貿易作為經濟全球化的基礎，是貿易公平的前提，限制貿易自由帶不來貿易公平；公平原則是自由貿易的應有之義，不公平的貿易也無法持續。至于貿易中出現的問題和爭端，要考慮對方國情，平等協商、互諒互讓，尋求利益契合點和平衡點，找到優勢互補、雙贏之道。在國際多邊規則下，要一視同仁，不宜將單邊規則強加于人，而是要尋求多贏。

Promoting inclusive growth requires the hard work of countries themselves. Against the backdrop of economic globalization and new industrial revolution, a country's ability to seize the opportunities to speed up economic development and address challenges of unemployment, widening income gap and poverty is very much shaped by its own choices and actions. We should put in place better institutional arrangements incentivizing efficiency and equity, develop a model of balanced and inclusive growth, and provide opportunities for equal participation by all. We should make education future-oriented to help the workforce better adapt to industrial transformation, remove structural hindrances to employment, and give more support to vulnerable groups to enable all to benefit from development. Talking about sustainable development, one should not fail to mention responding to climate change, which is the shared responsibility of the international community. China will honor its commitments under the Paris Agreement and carry out climate response measures on the ground, as this is also required for China's green development.

推動包容性增長，離不開各國自身努力。在經濟全球化和新工業革命進程中，各國能否用好機遇，加快經濟發展，解決好失業、收入差距拉大、貧困等問題，主要取決于自身的選擇和行動。要健全講求效率、注重公平的制度安排，打造平衡普惠的增長模式，提供人人平等參與的機會，改革面向未來的教育，增強勞動者在産業變革中的適應性，化解就業結構性矛盾，加大對弱勢群體扶持力度，努力讓所有人分享發展帶來的好處。講到可持續發展，就不能不提應對氣候變化，這是國際社會的共同責任。中國將信守《巴黎協定》承諾，落實應對氣候變化的措施，這也是中國綠色發展的需要。

Not long ago, China successfully held the Belt and Road Forum for International Cooperation. The Belt and Road Initiative, which follows the principles of extensive consultation, joint contribution and shared benefits, provides a wide platform for inclusive development and offers new opportunities for all countries and businesses. We look forward to the active participation of all sides for interconnected and win-win development through mutually beneficial cooperation.

前不久，中國成功舉辦“一帶一路”國際合作高峰論壇。“一帶一路”建設立足于共商共建共用，是一個包容發展的大平臺，為世界各國及工商企業提供了新的機遇。希望各方積極參與，在互利合作中實現聯動發展、共贏發展。

Ladies and Gentlemen,

China has been an active facilitator of inclusive growth. More inclusive growth in our country has been an important reason why the Chinese economy has maintained steady growth in recent years despite the sluggish world economy. In keeping with the principles of innovative, coordinated, green, open and shared development and the trend of economic globalization and the new industrial revolution, we have highlighted inclusiveness in our development strategies, and worked to promote inclusive growth through providing institutional guarantee and policy support. This has helped us to blaze a path of inclusive growth with distinctive Chinese features. Naturally, we are still feeling our way forward along this path.

女士們、先生們！

中國是包容性增長的積極實踐者。近年來，在世界經濟低迷的大環境中，中國經濟之所以保持平穩發展，一個重要原因就是包容性不斷增強。我們深入貫徹創新、協調、綠色、開放、共用的發展理念，順應經濟全球化和新工業革命大趨勢，在發展戰略上體現包容，在體制機制上保障包容，在政策舉措上促進包容，走出了一條具有自身特色的包容性增長之路。當然，我們還在探索之中。

We have given priority to employment in pursuing development. Employment is the foundation for achieving inclusive growth. Without relatively full employment, inclusive growth would not be possible, and there would be no solid foundation for generating greater income and wealth. China has a workforce of over 900 million. Every year, about 13 million students graduate from colleges and secondary schools and a large number of rural surplus labor migrate to towns and cities. We see employment as a key indicator of economic performance and promoting steady growth is mainly for the purpose of securing employment.

我們堅持把就業置于發展優先位置。就業是包容性增長的根本。沒有比較充分的就業，就談不上包容性增長，增加收入、創造社會財富也就成了無本之木。中國有9億多勞動力，每年有1300萬左右大中專畢業生，還有大量農業富余勞動力需要向城鎮轉移。我們把就業作為衡量經濟運作狀況的關鍵指標，穩增長主要是為了保就業。

We have implemented a proactive employment policy to boost total employment, address key employment issues and help vulnerable people. We encourage the creation of jobs by business start-ups. We have launched targeted employment programs for college graduates, supported migrant workers in starting up businesses back in their hometowns, and provided employment assistance to laid-off workers from industries with excess capacity, vulnerable urban residents and people with disabilities. The aim is to make sure that each family has at least one person on a stable job. Over the past few years, over 13 million new urban jobs have been created on a yearly basis, and surveyed urban unemployment rate has been kept at around 5%. A recent survey conducted by an authoritative international organization on various development indicators has ranked China's performance on employment at the very top of the world. In the meantime, people's income has been rising in tandem with economic growth, the Gini Coefficient is gradually going down and the ranks of middle-income earners have steadily swelled. This is a truly remarkable achievement for a major developing country with more than 1.3 billion people and an important contribution to inclusive growth.

堅持實施積極的就業政策，著力擴總量、抓重點、扶弱困。鼓勵以創業帶動就業，實施大學畢業生就業促進計劃，支援農民工返鄉創業，幫助去産能分流職工、城鎮困難人員、殘疾人等就業，確保零就業家庭至少有一人穩定就業。過去幾年，中國城鎮每年新增就業超過1300萬人，城鎮調查失業率保持在5%左右。有國際權威機構進行多項發展指標綜合評估，將中國就業表現列為世界第一。同時，居民收入增長與經濟增速保持同步，基尼係數逐步縮小，中等收入群體穩步擴大。這對一個13億多人口的發展中大國來説，是一項了不起的成就，也是對包容性增長的重要貢獻。

We have encouraged more people to go for entrepreneurship and innovation. It also helps broaden the channel of employment. To make sure that everyone takes part, contributes and shares the benefits is the essence of inclusive growth. It is also what drives entrepreneurship and innovation in today's China. In recent years, China has earnestly implemented the strategy of innovation-driven development, and promoted mass entrepreneurship and innovation by fostering enabling conditions. These efforts have yielded better-than-expected results.

我們持續擴大全社會創業創新參與度。這也是拓展就業渠道。人人參與、人人盡力、人人享有，是包容性增長的核心要義，也是當代中國創業創新的顯著特徵。近年來，中國深入實施創新驅動發展戰略，廣泛開展大眾創業、萬眾創新，厚植社會創業創新沃土，取得了超出預期的效果。

China's entrepreneurship and innovation are based on extensive public participation. Not only enterprises and research institutions are engaged in this effort, but more and more ordinary people are also joining in to make the best of their creative capabilities. This is aptly described by a Chinese idiom: Eight immortals crossing the sea, each with their own magical power. For the past three years since 2014 when we first put forward this initiative, an average of 40,000 new market entities have been set up every day, including some 14,000 newly registered enterprises. Business activity rate has stood at around 70%, and in May, the daily count of newly registered enterprises even reached 18,000.

中國的創業創新，是社會成員廣泛參與的。不僅企業和科研單位在推進“雙創”，越來越多的普通人也加入進來，八仙過海、各顯神通。自2014年我們提出“雙創”以來，三年間平均每天新增市場主體超過4萬家，其中新登記企業近1.4萬戶，企業活躍度保持在70%左右，今年5月份每天新登記企業更是達到1.8萬戶。

China's entrepreneurship and innovation are driven by cooperation among different market entities. We have built open and sharing platforms of mass entrepreneurship and innovation, where innovation players of various kinds interact online and offline. Pooling their wisdom and efforts has made entrepreneurship and innovation more efficient, less costly and faster. The Global Innovation Index 2017 issued by the World Intellectual Property Organization and others a few days ago put China at 22nd place, 13 spots higher from 2013 and topping the middle-income economies. China's entrepreneurship and innovation have delivered benefits to all. The Chinese government has adopted an accommodating and prudent regulatory approach toward new industries, new business forms and models, such as e-commerce, mobile payment and bike-sharing, which have enabled their fast and healthy development. As a result, people's lives are made more convenient and a large number of jobs are created. Of all the new jobs created last year, about 70% were contributed by new growth drivers.

中國的創業創新，是各類主體協同推進的。我們打造開放共用的“雙創”平臺，各類創新主體攜手合作，線上線下良性互動，聚眾智、匯眾力，使創業創新的成本更低、速度更快、效率更高。前些天，世界智慧財産權組織等機構發布了2017年全球創新指數排名，中國列第22位，較2013年上升13位，居中等收入經濟體之首。中國的創業創新，是人民群眾普遍受益的。我們對新産業、新業態、新模式，如電子商務、移動支付、共用單車，實行包容審慎監管方式，促進了其快速健康發展。這不僅便利了百姓生活，也增加了大量就業崗位。在去年全部新增就業中，新動能的貢獻率達到70%左右。

Mass entrepreneurship and innovation have given more people the opportunity to better their lives and thus improved opportunities for vertical social mobility. China's entrepreneurship and innovation have greatly advanced economic transformation and upgrading and raised our competitiveness. It has brought about fast growth of emerging industries and re-energized traditional ones, boosting new driving forces for development. Last year, the market value of China's sharing economy reached 3.5 trillion yuan, growing by more than 100% year-on-year, and 600 million people got involved in sharing. Thanks to the large population involved, China's entrepreneurship and innovation have gained a fast and strong momentum and provided an effective means to achieve inclusive growth.

“雙創”讓更多人有了改變自身命運的機會，拓寬了社會縱向流動通道。中國的創業創新，有力促進了經濟轉型升級和競爭力提高。“雙創”推動了新興産業迅速發展，使很多傳統産業煥發生機，壯大了發展新動能。去年中國分享經濟市場規模達3.5萬億元，增長速度超過100%，有6億人參與分享。中國的創業創新，因其“眾”而成其快、成其勢、成其強，是實現包容性增長的有效途徑。

We have continued to raise the standards of basic social welfare for our people. China is the world's biggest developing country. Meeting the basic needs of the over one billion people, such as subsistence, housing, education and medical care, is a huge challenge. Through painstaking efforts, China has put in place three social safety nets covering the entire population, i.e. basic pension, basic medical care and compulsory education. We have made utmost efforts to improve the living and working conditions of the low- and middle-income group, especially people living in poverty, and carried out major projects to improve people's livelihood, including rural poverty alleviation and rebuilding of run-down areas in cities. As a result of our efforts in the past 30 years and more, over 700 million Chinese have been lifted out of poverty, creating a Chinese miracle in the history of poverty reduction. We are now putting in targeted poverty alleviation efforts with the goal of taking the remaining 40 million rural poor out of poverty by 2020.

我們不斷提升基本民生保障水準。中國是世界上最大的發展中國家，解決好十幾億人口的溫飽、住房、教育、醫療等基本民生問題很不容易。通過艱苦努力，中國建立起了覆蓋全民的基本養老、基本醫療、義務教育三張保障網。我們瞄準中低收入人群特別是貧困人口，想方設法改善他們的生産生活條件，著力實施農村脫貧攻堅、城鎮棚戶區改造等重大民生工程。過去30多年，中國有7億多人口擺脫貧困，創造了人類減貧史上的奇跡。目前正在大力推進精準扶貧、精準脫貧，計劃到2020年使剩余的4000多萬農村貧困人口實現脫貧。

There used to be about 100 million people living in urban run-down areas in China. In the past eight years, we have invested over six trillion yuan in cumulative terms to ensure proper housing for over 80 million people by rebuilding more than 30 million run-down housing units. This is equivalent to housing the whole population of a relatively big country. Inclusive growth has delivered a better and more dignified life to our people and made our economy and society more dynamic and sustainable. That being said, China remains a developing country, and it still has a long way to go before the fruits of development can be shared among all its people and modernization realized.

中國曾經有約1億人生活在城鎮棚戶區，過去8年累計投入各類資金6萬多億元，改造棚戶區房屋3000多萬套，讓8000多萬居民住上新樓房，這相當于一個較大國家的人口總量。中國的包容性增長，使人民群眾生活更好、更有尊嚴，使經濟社會發展更有活力、更可持續。當然，中國還是一個發展中國家，推進全體人民共用發展成果、實現現代化，還有很長的路要走。

Ladies and Gentlemen,

The Chinese economy has maintained a momentum of steady and sound growth this year. The first quarter saw 6.9% growth with marked improvement in economic performance, and major economic indicators have continued to move in a positive direction in the second quarter. Power generation, freight volume and new business orders have increased notably. Profits of industrial companies above the designated scale have increased at double-digit rates. Foreign exchange reserves have started to grow again, and the RMB exchange rate has been basically stable. In particular, employment has been strong with surveyed unemployment rate for urban areas falling to 4.91% in May, the lowest level in years. Citing the growing strength of new drivers and steady progress in economic rebalancing in China, a number of international organizations and research institutions have recently revised up China's growth forecasts, reflecting optimistic market expectations.

女士們、先生們！

今年以來，中國經濟延續了穩中向好的發展態勢。一季度經濟增長6.9%，經濟效益明顯改善，二季度主要經濟指標繼續向好。發電量、貨運量、企業新訂單明顯增加，規模以上工業企業利潤兩位數增長。外匯儲備回升，人民幣匯率基本穩定。特別是就業形勢比較好，5月份全國城鎮調查失業率降到4.91%，處于多年來最低水準。近期，多家國際組織和研究機構上調對中國經濟增長的預測值，認為中國發展新動能不斷積聚，經濟再平衡穩步推進，這反映出市場的樂觀預期。

Pleased as we are with solid performance of economic indicators, we feel even more encouraged by valuable changes in our economic structure. In recent years, facing downward pressure, we did not resort to massive, indiscriminate stimulus measures or follow the previous pattern of excessive investment and resource consumption. Instead, we have kept readjusting our economic structure through reform and innovation and secured a major shift from too much reliance on export and investment to generating growth through consumption, the service sector and domestic demand. Last year, consumption became a primary growth driver, contributing 64.6% to economic growth; The added value of the service sector accounted for more than half, or 51.6% of GDP; Current account balance to GDP ratio dropped to 1.8%, showing that domestic demand has become a strong pillar of the economy. These major changes point to the qualitative improvement in the Chinese economy and have made our growth more stable and sustainable.

中國經濟運作指標令人欣慰，內在結構的變化更為可貴。這些年，面對經濟下行壓力，我們沒有採取“大水漫灌”式的強刺激，也沒有沿襲過度投資、消耗資源的傳統發展方式，而是通過改革創新，持續調整經濟結構，實現了經濟增長從過多依賴出口、投資，到更多依靠消費拉動、服務業帶動、內需支撐的重大轉變。去年，消費對經濟增長的貢獻率上升到64.6%，成為經濟增長的主要力量；服務業增加值佔比提高到51.6%，佔到半壁江山；經常賬戶差額與國內生産總值之比下降到1.8%，內需成了響當當的頂梁柱。這些重大轉變，凸顯了中國經濟質的提升，使經濟增長具有更好的穩定性和持續性。

Having said that, we are also facing significant economic difficulties and challenges, which we are fully prepared to tackle. Given the complex and volatile external environment, short-term and marginal fluctuations of some economic indicators are inevitable at this crucial stage of transformation and upgrading of China's economy, but the overall trajectory of stability and growth will remain unchanged, and we are fully capable of fulfilling this year's main targets and tasks of development. We will stay committed to seeking progress while maintaining stability, accelerate economic transformation and upgrading through supply-side structural reform, and strengthen the internally-driven development.

當前，中國經濟也面臨不少困難和挑戰，我們對此已做了充分應對準備。在外部環境復雜多變的背景下，在國內經濟轉型升級的關鍵時期，中國一些經濟指標有短期小幅波動是難免的，但穩中向好的態勢不會改變，完全能夠實現全年發展主要目標任務。我們將堅持穩中求進工作總基調，以供給側結構性改革為主線，推動經濟加快轉型升級，增強發展的內生動力。

We will deepen reform across the board and unleash greater dynamism of economic development. Reform will be stepped up in fiscal, taxation, financial, SOEs, state-owned asset and other key areas. Focus will be put on streamlining administration, delegating government powers, and cutting taxes and fees to lower institutional transaction costs and ease burdens on companies. Efforts will be made to expand market access, promote fair competition, provide better services, and remove investment and development barriers for private enterprises. Structural tax reduction policies will be implemented and charges on businesses overhauled. On top of the two trillion yuan worth of cuts in taxes and charges for businesses in previous years, we will introduce a further reduction of one trillion yuan this year, and make sure that market entities can truly feel the benefit of these measures.

我們將全面深化改革，釋放經濟發展的更大活力。加大財稅、金融、國企國資等重要領域改革力度。著力推進簡政放權、減稅降費，降低制度性交易成本和企業負擔。放寬市場準入，促進公平競爭，提供便利服務，消除民營企業投資和發展的障礙。落實結構性減稅政策，全面清理各種涉企收費，在前幾年減稅降費2萬億元的基礎上，今年再減輕企業負擔1萬億元，讓市場主體有更多感受。

We will continue to advance structural adjustments and accelerate the shift from old growth drivers to new ones. We will keep to innovation-driven development, seek greater progress in mass entrepreneurship and innovation, and push forward integrated innovation among large companies, SMEs, research institutions and makers. This will help foster new clusters of emerging industries, and encourage the transformation and upgrading of traditional industries with new technologies and new business forms. We will continue to cut excess capacity and phase out backward capacity in such areas as steel, coal and coal-fired power generation in a market- and law-based way. As China joins the ranks of middle-income countries, consumption is of crucial importance. Greater consumption will expand market potential in big ways and stimulate job creation. To upgrade consumption, we will keep improving the consumption environment, stimulate consumption demand and cultivate new areas of consumption. These measures will not only improve people's lives, but also provide new impetus to economic growth.

我們將持續推進結構調整，加快新舊動能接續轉換。堅持創新驅動發展，把“雙創”引向縱深，推動大中小企業、科研機構和社會創客融通創新，培育新興産業集群，鼓勵用新技術新業態改造提升傳統産業。繼續運用市場化法治化辦法，推進鋼鐵、煤炭、煤電等行業化解過剩産能、淘汰落後産能。中國已進入中等收入國家行列，消費至關重要。擴大消費，就能釋放市場巨大潛力，就能帶動更多就業。我們將適應消費升級需求，不斷改善消費環境，培育消費熱點，壯大新興消費。這不僅能改善人民生活，也能為經濟增長增添動力。

Proactive efforts will be made to expand opening-up and build a globally competitive business environment. We will move faster to develop a new, open economic system in keeping with economic globalization and the new industrial revolution. We will further ease market access in service and manufacturing sectors, relax foreign equity caps in some areas of interest, advance and improve the negative-list regulation model. Domestic and foreign companies are treated equally in the application of supportive policies. We will roll out measures to help them get registered at one-stop services and have their application handled within a time limit. We will encourage foreign-invested companies to reinvest their profits in China, support multinational companies in setting up regional headquarters in China, and encourage foreign investment in Central and Western China and old industrial bases such as Northeast China. In the coming five years, China will import US$8 trillion worth of goods. A Chinese economy which enjoys a sound momentum in the long run and becomes increasingly open will bring more opportunities to the rest of the world and remain the most attractive investment destination. We welcome businesses from across the world to invest in China and grow stronger with the Chinese economy.

我們將積極主動擴大對外開放，打造具有國際競爭力的營商環境。加快構建適應經濟全球化和新工業革命的開放型經濟新體制，進一步放寬服務業、制造業的市場準入，放寬一些外商關注領域的外資股比限制，推進和完善負面清單管理模式。對內外資企業，在支援政策上一視同仁，推動實施一個窗口登記注冊和限時辦結。鼓勵外資企業在華利潤留在境內投資，支援跨國公司在華設立地區總部，引導外資投向中西部地區、東北等老工業基地。未來5年，中國將進口8萬億美元的商品。中國經濟長期向好、日益開放，會給世界各國帶來更多機遇，將繼續是最富吸引力的投資目的地。歡迎各國工商界來華投資興業，與中國經濟共同成長。

We will step up efforts to prevent and control economic and financial risks and stave off systemic risks. Potential risks do exist in some areas, but they are generally under control. We are taking effective measures to tackle and remove them in a timely way. For China, the biggest risk is that of stalling growth. We will continue to take coordinated measures to prevent and address risks in the course of promoting economic development. With a relatively low government debt ratio among major economies and a relatively high savings rate, capital adequacy ratio of commercial banks and provision coverage ratio, we are fully capable of fending off risks and ensuring that the economy performs within a reasonable range, maintains medium-high growth rate and moves to the medium-high level.

我們將加強經濟金融風險的防控，守住不發生係統性風險底線。目前，一些領域確實存在風險隱患，但風險總體可控。我們正在採取有效措施，及時化解和處理風險點。對中國來説，不發展是最大的風險。我們將繼續統籌兼顧，在促進經濟發展中防范化解風險。中國政府負債率在世界主要經濟體中相對較低，國民儲蓄率、商業銀行資本充足率、撥備覆蓋率相對較高，我們有足夠的能力防范各類風險，確保經濟運作在合理區間，並長期保持經濟中高速增長、邁向中高端水準。

Ladies and Gentlemen,

As a Chinese saying goes, "The sea is vast as it admits all rivers." An inclusive world will be a more splendid place. We are ready to work with all countries to achieve inclusive growth in economic globalization and the new industrial revolution, build a community of shared future, and create an even brighter tomorrow for mankind.

To conclude, I wish this Annual Meeting a complete success.

Thank you.

女士們、先生們！

中國人常説，海納百川，有容乃大。一個更加包容的世界，必將是更加精彩的世界。我們願與各國一道，致力在經濟全球化和新工業革命進程中實現包容性增長，共同構建人類命運共同體，共同創造人類美好未來！

祝本屆論壇圓滿成功！謝謝大家！

(Source: Xinhua)