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中国日报网 2016-03-16 17:10


Premier Li Keqiang answers questions of the media at the news conference after the closing meeting of the fourth session of China's 12th National People's Congress at the Great Hall of the People in Beijing, March 16, 2016. [Photo by Feng Yongbin/chinadaily.com.cn]


Xinhua News Agency: Some people are worried that China's growth might fail to reach the target or even below 6.5 percent. What's your view?


You raised a big question. But it is impossible for me to agree that China cannot achieve the growth target this year.

The weak world recovery has taken its toll on the Chinese economy, which is deeply engaged in the world economy. China's economic transition is under way and its deep-rooted problems are emerging. The downward pressure indeed is increasing. But one prominent feature is greater divergence among regions and industries.

The other day I read a foreign media report saying that one visit to a heavy industry left the impression of depression, while the next stop to a technology park left the impression that the economy is growing at a double-digit rate. This is in line with my last year's field trip conclusion: hope and challenges coexist. If we look at the "fundamental" and "big trend", hope outweighs challenges.

We are fully confident about China's long-term growth prospects. This confidence is not groundless, because we believe that there will not be a hard landing as long as we stick to the reform path. There is still huge potential for China's markets; the general public has unlimited creativity. The government has overreached its aims in many aspects of economy, which hindered the gains of productivity; we are also not doing a sufficient job in ensuring a level playing ground . I believe through reform we can stimulate more vitality in the market, and greater vigor of the people. The wisdom and hard work of our people, if well tapped, is enough to withstand downward pressures.

The deregulation and tax cuts of the past few years will unleash the vitality of the market. Meanwhile, new forces of economic growth drivers are taking shape in a way that beats expectations. Despite the slowdown over the past few years, the employment condition is not bad. Last year we created more than 13 million jobs in the urban area. In the first two months of this year, the service sector grew 8.1 percent. Among them, there is high-tech research development, which is giving a push to the upgrade of traditional industries, an area where there is so much work we can do. We are in the midst of pushing ahead with deindustrialization and urbanization. New-style urbanization is the large domestic demand, especially in central and western regions, where there is enormous room for effective investment. If we combine the "fostering of new drivers" and "upgrading of old engines" and make them the "double-engines" of the Chinese economy, it will go through the pass of difficulties and leap to the plateau of hope.

Under uncertain world economic prospects, instability is adding. But we have ample reserves of policy instruments. Last year, despite a six-year low in world growth, we managed to reach our previous target. We realized that in the absence of all-out stimulus measures, instead we have chosen the path of structural reform, which is tough but sustainable. There will be small and short-term volatility down the road, but in case there is any sign that the economy will slide beyond an appropriate range, we have the reserves of innovative macro-adjustment measures to stabilize expectations.

The "stress test" we have been through, in another way, is a precious experience. I believe that under the leadership of the CPC central committee with Xi Jinping as general secretary, as long as the new vision we have deployed unites the people's efforts, we will be able to deliver a good start to the 13th five-year plan, which will bring a warm breeze to the world.


I just want to add one thing to part of the question raised by the Reuters journalist regarding when the Shenzhen-Hong Kong stock connect will be launched. We have already launched the Shanghai-Hong Kong stock connect and a lot of experience has already been gained from its operation. That stock exchange connection has brought real benefits to both cities. Currently, authorities in the mainland and in Hong Kong are in intensive discussions, and we will work toward the launch of the Shenzhen-Hong Kong stock connect within this year.


NBC: I'm with NBC. Respected Premier Li, your work report has outlined steps to China's economic growth, which should help the global economy. But there is one factor of uncertainty and that is the continuing dispute between the world's two largest economies over a range of disputes. So Mr Premier, what do you propose can be done to improve the China-US relationship and address American concerns with respect to market access, investment restrictions, level of fair competition for American companies or fair trading practices that did not steal American jobs, issues that have been raised by some candidates in the current US election campaign. Thank you.


There are broad interests between China and the United States. There are also some differences between the two countries, and some differences could be quite sharp. There is no need to deny this. For some time it seems that many people have been talking about differences between the two countries, yet at the same time have overlooked one very important thing that happened last year, that is China became the United States top trading partner, with two-way trade reaching $560 billion. This in itself shows that the common interests between the two countries are constantly expanding, and (the common interests) far outweigh their differences.

如何使中美关系健康向前发展,我想还是要遵循平等相待、互利共赢的原则。现在中美双方都表示,要积极推进中美投资协定谈判,我们将会放开或逐步放开美方对中国投资的准入门槛,但是这应该是相向的,双方开放应该是对等的。所以我们也希望美方在和我们进行中美投资协定谈判过程中,能够本着平等共赢的原则来推进。我相信,我们之间的共同利益会不断扩大。对于出现的分歧,我们之间有上百个对话交流机制,只要是出于诚意,管控好分歧,我相信中美共同利益还会不断扩大。在中美合作不断扩大的过程中,分歧的量会增加,但所占比例会下降。中美深化合作不仅有利于中美两国,也有利于世界。 As for how to ensure the healthy development of China-US ties, I believe both countries need to act in keeping with the principles of equality and mutual benefit. Currently the two countries have stated readiness to press ahead with Bilateral Investment Treaty negotiations. China, on its part, will give US investors wider market access in a gradual manner, but we hope such openings would be mutual, and the BIT negotiations should proceed on the basis of seeking mutual benefit. I believe the common interests between us will constantly expand. As for the differences between the two countries, there are up to 100 various dialogue and exchange mechanisms between China and the US. As long as the two sides act with good faith and properly manage their differences, I believe our common interest will further expand. And as our cooperation expands, the number of differences may naturally rise, but the percentage of differences in the overall China-US relationship will only come down. Broader cooperation serves the interests of both countries and the world.

Business cooperation between our two countries has always been mutually beneficial, something that I believe the US business people know best. As for the ongoing general election in the US, it has been lively and has caught the eyes of many. I believe that no matter, in the end, who gets into the White House, the underlying trend of China-US ties will not change. It has been several decades since the two countries established diplomatic relations, and the relationship has seen more than a fair share of ups and downs, but it has been always moving forward, which I believe is the underlying trend. Thank you.

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