（一）加強和改善宏觀調控，遏制物價過快上漲，實現經濟平穩較快發展。
1. Strengthening and improving macro-control, preventing fast price rises, and achieving steady and robust economic development

我們實施積極的財政政策和穩健的貨幣政策，堅持正確處理保持經濟平穩較快發展、調整經濟結構和管理通脹預期的關系，更加注重把握好政策實施的重點、力度和節奏，努力做到調控審慎靈活、適時適度，不斷提高政策的針對性、靈活性和前瞻性。
We followed a proactive fiscal policy and a prudent monetary policy, and maintained a balance between ensuring steady and robust economic development, adjusting the economic structure, and managing inflation expectations. We paid greater attention to implementing policies with the proper focus, force, and pace; conducted prudent and flexible macro-control on a moderate scale and in a timely fashion; and constantly made our policies more targeted, flexible, and forward-looking.

在全球通脹預期不斷增強，國際市場大宗商品價格高位波動，國內要素成本明顯上升，部分農產品供給偏緊的嚴峻形勢下，我們把穩定物價總水平作為宏觀調控的首要任務，堅持綜合施策，合理運用貨幣政策工具，調節貨幣信貸增速，大力發展生產，保障供給，搞活流通，加強監管，居民消費價格指數、工業生產者出廠價格指數漲幅從8月份起逐月回落，扭轉了一度過快上漲勢頭。
Amid worsening inflation expectations worldwide, fluctuating and high prices of major commodities on the world market, significantly higher costs of factors ofproduction at home, and a shortage of some agricultural products, we made ensuring general price stability our top priority in macro-control, pursued policies in an integrated way, rationally used monetary policy tools to regulate the supplies of money and credit, vigorously developed production to ensure supply, boosted distribution, and strengthened supervision. As a result, increases in the consumer price index (CPI) and the producer price index (PPI) began falling in August, thus reversing the trend of rapid inflation.

下半年，世界經濟不穩定性不確定性上升，國內經濟運行出現一些新情況新問題，我們一方面堅持宏觀調控的基本取向不變，保持宏觀經濟政策基本穩定，繼續控制通貨膨脹；一方面適時適度預調微調，加強信貸政策與產業政策的協調配合，加大結構性減稅力度，重點支持實體經濟特別是小型微型企業，重點支持民生工程特別是保障性安居工程，重點保證國家重大在建、續建項目的資金需要，有針對性地解決經濟運行中的突出矛盾。

我們堅定不移地加強房地產市場調控，確保調控政策落到實處、見到實效。投機、投資性需求得到明顯抑制，多數城市房價環比下降，調控效果正在顯現。我們高度重視防范和化解財政金融領域的潛在風險隱患，及時對地方政府性債務進行全面審計，摸清了多年形成的地方政府性債務的總規模、形成原因、償還時限和區域分布。這些債務在經濟社會發展中發揮了積極作用，形成了大量優質資產；也存在一些風險隱患，特別是部分償債能力較弱地區存在局部性風險。
In the second half of the year, when the global economy faced greater instability and uncertainty and when new developments and problems occurred in China's economy, we kept the basic orientation of macro-control unchanged, maintained the basic continuity of our macroeconomic policies, and continued to curb inflation. In addition, we carried out timely and appropriate anticipatory adjustments and fine-tuning, strengthened coordination between credit and industrial policies, and increased structural tax reductions. We focused on supporting the real economy, especially small and micro businesses; improving the people's wellbeing, especially by building low-income housing projects; and ensuring funding for key projects that are under construction or expansion. These well-targeted measures were taken to solve major economic problems. We steadfastly tightened regulation of the real estate market and ensured that control policies were fully carried out and achieved real progress. Consequently, speculative or investment-driven housing demand has been significantly curbed, housing prices in most Chinese cities have fallen month on month, and the results of our control measures are beginning to show. We attached great importance to guarding against and eliminating latent risks which exist in the banking and public finance sectors.

我們認真開展債務清理整頓和規范工作，嚴格控制增量，積極穩妥解決債務償還和在建項目后續融資問題。目前，我國政府性債務水平是可控的、安全的。總的看，我國國民經濟繼續朝著宏觀調控預期方向發展，抗風險能力不斷增強，呈現增長較快、價格趨穩、效益較好、民生改善的良好態勢。
We fully audited local government debt in a timely manner, and obtained a clear picture of the total amount, due dates, geographic distribution, and causes of the debts local governments incurred over the years. These debts have played a positive role in promoting economic and social development and produced a large amount of quality assets. However, they also contained risks and hidden dangers, and some localities with poor ability to pay their debts were at risk of default. We sorted out and standardized these debts, imposed a cap on their increase, and actively yet prudently solved problems related to the repayment of such debts and additional funding for ongoing projects. Government debt in China now is at a controllable and secure level. China's economy as a whole continues to grow as we anticipated in our exercise of macro-controls and has become more resilient. Economic growth is robust, prices are stabilizing, economic returns are good, and the people's wellbeing is improving.