—We will spur economic development through innovation and promote scientific and technological advances and upgrading of the industrial structure. This is a strategic priority if we are to fundamentally ease the resources and environmental constraints, adapt ourselves to the adjustments in the international demand structure and new changes brought by the upgrading of domestic consumption, raise the quality and efficiency of our economic development and national competitiveness across the board, and promote sustainable economic development. We will integrate our efforts in strengthening the capacity for scientific and technological innovation with those for improving the modern industrial system. We will upgrade the traditional industries with advanced technologies, nurture a number of internationally competitive enterprises with their own intellectual property and well-known brands, and build a number of world-class modern industry clusters which can serve as growth drivers, so that China can move from a big manufacturing country to a strong manufacturing country. We will firmly grasp the new trend in future scientific and technological advancement, provide stronger policy support and planning guidance, actively build the emerging industries with strategic importance, develop new pillar industries as a faster pace, and strive for leap-frog development. We will accelerate the opening up of the service industry both domestically and externally, foster an enabling policy and institutional environment for its development and increase its proportion in the national economy.

—We will continue to conserve resources and protect the environment, and raise the efficiency in resources utilization and capacity in tackling climate change. To conserve resources and protect the environment is China's basic state policy. We must accelerate the formation of an industrial structure, production model and consumption pattern that are conducive to energy and resources conservation and eco-protection to promote harmony between man and nature. We will further improve laws and standards, strengthen accountability evaluation in meeting environmental targets, and advance the development of circular economy. We will make all-round efforts to save energy, water, land and materials and make comprehensive use of all kinds of resources, enhance the conservation and management of all natural resources, and take a holistic approach to protect and repair the eco-environment. We will energetically develop low carbon industrial, construction and transport systems, increase the forest carbon sink and speed up the R&D, demonstration and industrial application of low carbon technologies. We will comprehensively enhance our capacity for tackling climate change, and actively carry out international cooperation against climate change under the principle of "common but differentiated responsibilities."

—We will strike a balance between economic and social development and strive to ensure and improve people's livelihood and promote social equity and justice. To improve people's livelihood and extend the benefits of economic development to all is the fundamental goal of economic and social development. And to meet the essential needs of the people and free them from worries for daily necessities is an important responsibility of modern government. Many countries now face the challenge of high unemployment. China is also confronted by a rather severe employment situation. There are almost 800 million people of working age in China, equivalent to the workforce of all developed countries combined. The annual increase of workforce in the job market far exceeds the number of jobs available. The oversupply of labor and structural labor shortage exist side by side. We will make employment expansion a priority target in economic and social development, implement a more pro-active employment policy, vigorously create new jobs, and encourage self-employment to promote full employment. We will enhance the government's capability in providing public services, gradually establish a fairly complete and sustainable system of basic public services that covers both urban and rural areas, and promote equal access to social security and basic medical and health care services. The issue of housing is both an economic issue and more importantly, a major issue affecting people's livelihood and social stability. To stabilize the housing price and ensure housing availability is an important responsibility of governments at all levels. We must further rectify the market order, improve the land, tax and financial policies, accelerate the establishment of a long-term mechanism for the healthy development of the housing market and curb investment and speculative demand. We need to guide the market towards greater supply of ordinary commercial housing, speed up the development of low-income housing and build public rental housing in order to form a rational structure of housing supply and meet the diverse housing needs.

—We will deepen reform and increase the dynamism and vitality for sustainable development. China's development and progress would not have been possible without reform and opening up. And to achieve the modernization goal of building a prosperous, democratic, culturally-advanced and harmonious country, we still need to rely on reform and opening up. With China's reform endeavor at a crucial stage, we must advance the reforms in all areas with greater determination and courage. We must deepen comprehensive reforms in the economic, political and other fields to enable the entire system to better meet the needs of developing a modern economy and building socialist democracy, push forward social equity and justice and facilitate the free and all-round development of the people.

Ladies and Gentlemen,

China's development is open development. China's opening up is long-term, comprehensive and mutually beneficial. We will uphold all policies conductive to opening up. China is committed to creating an open and fair environment for foreign invested enterprises. China gives high priority to intellectual property protection and has already made this a national strategy. We are ready to conduct exchanges and dialogue with other countries in this field. I wish to reiterate here that all enterprises registered in China according to Chinese laws are Chinese enterprises. Their products are made-in-China products. And the innovative products based on their research and development are created-in-China products. All foreign invested enterprises registered in China enjoy national treatment. In government procurement, China gives equal treatment to all products produced in China by foreign invested enterprises and Chinese invested enterprises alike.

China's huge market volume, sound infrastructure, strong industrial support ability and stable and fair market environment are attracting more and more multinational enterprises to invest and establish business in China. China is now one of the world's largest foreign investment destinations. More than 470 of the top 500 global companies have established their presence in China. By July this year, China had received $1.05 trillion of foreign investment in cumulative terms, ranking the first among developing countries for 18 years in a row. In the first seven months this year, foreign investment in China increased by 20.7 percent over the same period last year. Foreign invested enterprises on the whole enjoy good operation in China and have reaped good returns. Many have become the bright spot and profit center in the global business growth of their parent companies. All of these demonstrate that the efforts of the Chinese government to foster a favorable investment environment have been recognized by the investors and bolstered foreign investors' confidence. We will continue to improve the foreign-related economic laws, regulations and policies, and improve the business environment for foreign investors in China. We sincerely welcome enterprises from all countries to actively participate in China's reform and opening-up process, and hope that all types of enterprises will strictly abide by China's laws and regulations, run businesses in China according to law, and share the opportunities and benefits of China's prosperity and progress.

Thank you.

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