Dear Colleagues,

China's development is an important part of world development. Since reform and opening up, China has lifted over 200 million people out of absolute poverty and provided for the basic needs of 1.3 billion Chinese. We are now working toward the goal of building a moderately prosperous society in all respects. We have made our achievements through strenuous efforts and by overcoming numerous difficulties. Meanwhile, China has offered sincere and selfless assistance to fellow developing countries as its ability permits and actively promoted South-South cooperation, contributing its share to world development.

With the advent of the second decade of the 21st century, China's development has entered a new stage. In the light of changing domestic and external situation, we have set the strategic goal of accelerating the transformation of economic development pattern. We will speed up efforts to adjust the income distribution structure, urban-rural development structure, regional development structure and industrial structure, promote scientific and technological innovation, and develop modern agriculture, conservation culture, cultural industries and the social safety net to bring about balanced economic and social development. The series of policies and measures China adopted to boost domestic demand has produced notable results. In 2009, China's total retail sales rose by 15.5 percent. Final consumption accounted for 4.1 percentage points in the economic growth rate. In other words, it contributed 45.4 percent to last year's economic growth. In the first nine months of this year, total retail sales in China grew by 18.3 percent, reflecting the greater role of domestic demand in economic growth. In the same period, China's imports and exports were up by 42.4 percent and 34.0 percent respectively and trade surplus was down by 10.5 percent year-on-year, a demonstration of further improvement in foreign trade balance and international balance of payments.

China has identified the overall direction and strategic tasks of development in the next five years. Staying committed to scientific development and focusing on transforming the economic development pattern at a faster pace, we will deepen reform and opening up, ensure and improve people's livelihood and strive for sustained, stable and fast economic development and social harmony and stability. Transforming the economic development pattern, expanding domestic demand and improving people's well-being will be our priority tasks in advancing economic and social development. We will introduce policy measures to enhance people's spending power, improve consumption expectations, cultivate areas of high consumer demand and foster a better environment for consumption. We will expedite the adjustment of income distribution pattern, increase people's income through multiple channels, upgrade the level of social security and steadily raise the minimum wage. We will expand consumer credit and develop better commercial distribution infrastructure in order to achieve sustained and fast growth in consumer spending. We will continue with our effort to shift the driver of economic growth to consumption, investment and export. All in all, we will strive for comprehensive, balanced and sustainable development and make new contributions to world economic development.

Dear Colleagues,

Let us show greater courage and wisdom and work hand-in-hand for the all-round development of the world and a better future for mankind.

Thank you.

Source: www.fmprc.gov.cn