李克强总理博鳌论坛主旨演讲（双语全文）

Asia's development is important to the future of the world, and China's development is closely bound up with Asia.

To keep China's economy running within a proper range is both a basic target of China's current macro-control and its medium-to-long-term policy goal. We have set this year's target of economic growth at about 7.5%. The word "about" indicates that there is a range for the GDP growth. As long as there is fairly sufficient employment and no major fluctuations, the actual GDP growth will be considered to be within the proper range, be it slightly higher or lower than the 7.5% target.

Statistics show that urban employment continued to increase, individual income, corporate profits and fiscal revenue registered steady growth, consumer prices remained stable, growth of electricity consumption started to rise and there were positive dynamics in structural adjustment. In short, the Chinese economy has got off to a stable and good start.

On the other hand, the upturn of the Chinese economy is not yet on a solid footing, downward pressure still exists, and difficulties in some fields must not be underestimated. These problems show the impact exerted on China by the complex international environment; they also reflect the prominent challenges and economic slowdown that China faces.

Preparedness ensures success. Faced with this complex situation, we need to calmly assess the current developments, stay focused, and take initiatives as called for. In exercising macro-control, we will endeavor to strike a balance between aggregate supply and demand, focus on improving the economic structure, ensure proper policy intensity of macro-control in the light of changing situation and take targeted and differentiated measures as appropriate.

Last year, we pursued creative thinking and methods in exercising macro-control and gained new experience in this regard. We will not resort to short-term massive stimulus policies just because of temporary economic fluctuations and we will pay more attention to sound development in the medium to long run and strive for sustained and sound economic development. With all the principles established and policy options at our disposal, we can handle all possible risks and challenges. China's development has strong resilience. We have the capabilities and confidence to keep the economy functioning within the proper range.

There are conditions in place for the Chinese economy to achieve sustained sound growth. China has a big economy and large foreign exchange reserves. There is steady and coordinated progress in advancing the new type of industrialization, IT application, urbanization and agricultural modernization. And the Chinese market has broad space. There is much we can do to boost China's development. In particular, there is a large urban-rural gap in development. Population in the central, western and northeastern regions accounts for over 60% of the national total. And per capita GDP has just exceeded US$5,000. To narrow the gap between urban and rural areas and among different regions will unleash huge potential of growth. We have introduced a series of policies to advance reform, adjust structure and benefit the people, and more such measures are under consideration. All these will help ensure such steady growth.

Steady growth is possible only with a solid foundation just as long distance can be covered only by a vehicle with a high-powered engine. The Chinese economy has the basis for steady growth. It not only enjoys good conditions for maintaining medium to high speed growth in the time to come, but also inexhaustible impetus for sustained development. Under the theme of identifying new growth drivers, we will make multi-pronged efforts in the following three areas:

First, we will create impetus by deepening reform. The market has huge vitality and the people have indefinite creativity. We will work harder to streamline administration and delegate more power to lower level governments. We will introduce a system of listing government powers, consider the adoption of a management model based on a negative list approach, accumulate useful experience through the development of the China (Shanghai) Pilot Free Trade Zone and spread it to other areas. This will enable us to expand market access, foster a better business environment, encourage fair competition, develop a law-based economy, unleash greater dividends of reform, spark social creativity, and stabilize market expectations.

Opening-up is also a kind of reform and can boost reform. We will carry out a new round of opening-up at a high level. An important part of this endeavor is to further open up the services sector, including the capital market. For example, we will actively create conditions to establish a Shanghai-Hong Kong stock exchanges connectivity mechanism, and further promote two-way opening-up and healthy development of the capital markets on the mainland and Hong Kong. We will continue to raise the level and quality of opening-up through deeper integration with the international market.

Second, we will create impetus by adjusting economic structure. We will narrow urban-rural and regional development gaps and address the unreasonable industrial structure to push forward structural adjustment through structural reform. We will speed up efforts to improve the services sector, which is our weak link, extend the pilot VAT reform to postal, telecommunications and other services sectors, use tax tools to develop producer and consumer services, and use more private capital to increase the supply of old-age support, health, tourism, cultural, sports and other services.

We will implement a new type of people-centered urbanization, address the bifurcation between urban and rural areas and within cities, and grant urban residency in an orderly manner to rural people who have moved to cities. The government will increase support and use market tools to rebuild more rundown areas this year.