We have implemented a pro-active fiscal policy and a moderately easy monetary policy with an unprecedented intensity, and at the same time successfully kept fiscal and financial risks under control. In the past two years, China's budget deficit and government debt have been kept below 3 percent and around 20 percent of the GDP respectively. The asset quality of banks and their ability to fend off risks have improved. The capital adequacy ratio and NPL ratio now stand at 11.1 percent and 2.8 percent respectively, both in the safe territory. This being said, we are keenly aware of the latent fiscal and financial risks, especially the debt risks of the financing platforms of local governments. This is not a new problem, yet the risks have somewhat increased in recent months. We have formulated the measures to strengthen the regulation of those financing platforms and implementation is well underway. In the face of the sudden international financial crisis, the extraordinary policy measures that we have adopted are necessary and these measure have played a positive role. Yet some negative impacts are hardly avoidable. What's important is to keep those negative impacts within a scope that we can manage. In this sense, we have done a good job in balancing the need of promoting positive effects with that of reducing negative ones. Taken as a whole, the results of our stimulus package are good.

中國實(shí)施一攬子計(jì)劃，不僅保持了本國經(jīng)濟(jì)穩(wěn)定和較快增長，也為世界經(jīng)濟(jì)復(fù)蘇做出了重要貢獻(xiàn)。當(dāng)主要發(fā)達(dá)國家經(jīng)濟(jì)出現(xiàn)負(fù)增長之時(shí)，中國等發(fā)展中大國經(jīng)濟(jì)迅速回穩(wěn)和保持較快增長，極大地增強(qiáng)了世界戰(zhàn)勝國際金融危機(jī)的信心，為世界經(jīng)濟(jì)提供了強(qiáng)勁增長動(dòng)力。2009年中國實(shí)現(xiàn)進(jìn)口10056億美元，全年貿(mào)易順差減少了1020億美元；今年前7個(gè)月，中國實(shí)現(xiàn)進(jìn)口7666億美元，同比大幅增長47.2%，貿(mào)易順差同比減少226億美元。這表明，中國經(jīng)濟(jì)增長為跨國公司提供了重大發(fā)展機(jī)遇，為主要經(jīng)濟(jì)體和周邊國家創(chuàng)造了大量需求，成為世界經(jīng)濟(jì)復(fù)蘇的重要引擎。

By implementing the stimulus package, we have not only maintained China's economic stability and relatively fast economic growth, but also made important contribution to the world economic recovery. At a time of negative economic growth for major developed countries, the fast economic stabilization and rapid economic growth of China and other major developing countries greatly boosted international confidence in overcoming the financial crisis and provided a strong impetus to the world economic growth. In 2009, China's imports totaled 1.0056 trillion U.S. dollars, and its trade surplus dropped by 102 billion U.S. dollars. In the first seven months of this year, China's imports reached 766.6 billion U.S. dollars, a surge of 47.2 percent year on year. This shows that China's economic growth has provided major development opportunities for the multinationals and created huge demand for major economies and neighboring countries. It has become an important engine for the world economic recovery.

總之，無論從短期看、還是從長期看，無論從實(shí)體經(jīng)濟(jì)領(lǐng)域看、還是從財(cái)政金融領(lǐng)域看，我們應(yīng)對(duì)國際金融危機(jī)采取的一攬子計(jì)劃和政策措施都是符合中國實(shí)際的，是及時(shí)的、有力的、有效的，是造福當(dāng)代、利于后人、惠及世界的正確選擇。當(dāng)前中國經(jīng)濟(jì)運(yùn)行呈現(xiàn)增長速度較快、結(jié)構(gòu)逐步優(yōu)化、就業(yè)持續(xù)增加、價(jià)格基本穩(wěn)定的良好格局。二季度后一些主要經(jīng)濟(jì)指標(biāo)增速出現(xiàn)回落，主要是基數(shù)影響和主動(dòng)調(diào)控的結(jié)果。我們完全有信心、有條件、有能力繼續(xù)保持經(jīng)濟(jì)平穩(wěn)較快發(fā)展。我們將堅(jiān)持把處理好保持經(jīng)濟(jì)平穩(wěn)較快發(fā)展、調(diào)整經(jīng)濟(jì)結(jié)構(gòu)和管理通脹預(yù)期的關(guān)系作為宏觀調(diào)控的核心，把穩(wěn)定政策作為宏觀調(diào)控的主基調(diào)，保持政策的連續(xù)性、穩(wěn)定性，增強(qiáng)調(diào)控的針對(duì)性、靈活性，進(jìn)一步鞏固和發(fā)展好的勢(shì)頭。

To sum up, from both the near and long-term perspective and in both the real economy and the fiscal and financial field, our stimulus package, policies and measures are timely, forceful, effective and suited to China's realities. They are the right choice that will bring benefits to both the current and future generations and serve the interests of the world. China's economy is now in good shape, featuring fast growth, structural improvement, rising employment and basic price stability. Growth of some major economic indicators moderated in the second quarter of this year. This is mainly due to the high level of the base figures and our proactive macro-control measures. We have the confidence, conditions and capabilities to maintain steady and fast economic development. In exercising macro-control, we will take it as a central task to appropriately handle the relationship between maintaining steady and rapid economic development, adjusting the economic structure and managing inflation expectations, and we will take policy stability as the main focus. While maintaining the continuity and stability of our policies, we will make macro-control measures more targeted and flexible to consolidate and strengthen the sound momentum of development.