This unprecedented financial crisis has inflicted a severe impact onboth China and Britain as well as other European countries. The crisis hasnot yet hit the bottom, and it is hard to predict what further damage itmay cause. To work together and tide over the difficulties has become ourtop priority.
我认为，应对全球性危机，需要增进合作。有多大程度的相互信任，就可能有多大程度的合作。中国政府主张：第一，要首先办好各国自己的事情，不把麻烦推给别人；第二，要精诚合作，不搞以邻为壑；第三，要标本兼治，不能头疼医头、脚疼医脚。我在达沃斯会议上已重申，应该对国际货币金融体系进行必要的改革，建立公平、公正、包容、有序的国际金融新秩序，努力营造有利于全球经济发展的制度环境。
I believe that closer cooperation is needed to meet the global crisis,and the level of cooperation hinges upon the level of mutual trust. TheChinese Government maintains that countries should: first and foremost,run their own affairs well and refrain from shifting troubles onto others;second, carry out cooperation with full sincerity and avoid pursuing one'sown interests at the expense of others; and third, address both thesymptoms and the root cause of the problem. A palliative approach will notwork. We should not treat only the head when the head aches, and the footwhen the foot hurts. As I reiterated at the World Economic Forum AnnualMeeting in Davos, necessary reform of the international monetary andfinancial systems should be carried out to establish a new internationalfinancial order that is fair, equitable, inclusive and well-managed. Weshould create an institutional environment conducive to global economicgrowth.
这里我想谈一谈中国是如何应对这场金融危机的。
Let me talk briefly about how China has been responding to the crisis.
金融危机对中国实体经济的影响日益显现。从去年第三季度以来，出口大幅下滑，经济增速放缓，就业压力加大。中国经济面临着严峻的局面。面对危机，我们果断决策，及时调整宏观经济政策取向，迅速出台扩大国内需求的十项措施，陆续制定了一系列政策，形成了系统完整的促进经济平稳较快发展的一揽子计划。主要包括以下几个方面：
The fallout of the financial crisis on China's real economy is becomingmore evident. Since the third quarter of last year, our exports havedeclined sharply, economic growth has slowed down, and the pressure onemployment has been rising. In the face of the grim situation, we haveacted decisively. We have made timely adjustment to the direction of ourmacroeconomic policy, promptly introduced ten measures to expand domesticdemand, and formulated a series of related policies. Together, they makeup a systematic and comprehensive package plan aimed at promoting steadyand relatively fast economic growth. Its main contents are:
一是大规模增加政府支出扩大内需。中国政府推出了以财政支出带动社会投资，总额达4万亿元的两年计划，规模相当于2007年中国GDP的16%。主要投向保障性安居工程、农村民生工程、铁路交通等基础设施、社会事业、生态环保建设和地震灾后恢复重建。中国政府还推出了大规模的减税计划，一年可减轻企业和居民负担约5000亿元。我们还大幅度降息和增加银行体系流动性，出台了一系列金融措施。
First, substantially increase government spending to boost domesticdemand. The Chinese Government has announced a two-year investment programthat will generate, through fiscal spending, a total investment of RMB 4trillion nationwide, equivalent to 16% of China's GDP in 2007. The moneywill mainly go into government-subsidized housing, projects related to thewell-being of rural residents, the construction of railway and otherinfrastructural projects, social development programs, environmentalprotection and post-earthquake recovery and reconstruction. The ChineseGovernment has introduced a massive tax-cut program, which will reduce thetax burdens on businesses and individuals by about RMB 500 billion eachyear. We have also cut interest rates by a large margin, increasedliquidity in the banking system and adopted a range of financial measures.
二是大范围实施产业调金融危机整振兴计划。我们全面推进产业结构调整和优化升级，制定汽车、钢铁等十个重点产业的调整和振兴规划。我们采取经济和技术的措施，大力推进节能减排，推进企业兼并重组，提高产业集中度和资源配置效率。我们鼓励和支持企业广泛应用新技术、新工艺、新设备、新材料，开发适销对路产品。
Second, implement a large-scale industrial restructuring andrejuvenation program. We are pushing forward industrial restructuring andupgrading across the board and formulating plans for the restructuring andrevitalization of ten key industries, including automobiles and iron andsteel. We will take economic and technological measures to boost energyconservation and reduce emissions, and promote merger and reorganizationof enterprises to raise the level of industry concentration and theefficiency of resource allocation. We encourage and support the extensive applicationof new technologies, techniques, equipment and materials and thedevelopment of marketable products by enterprises.
三是大力推进科技进步和创新。科技是克服金融危机的根本力量。每一场大的危机常常伴随一场新的科技革命；每一次经济的复苏，都离不开技术创新。我们加快实施国家中长期科学和技术发展规划，特别是核心电子器件、核能开发利用、高档数控机床等16个重大专项，突破一批核心技术和关键共性技术，为中国经济在更高水平上实现可持续发展提供科技支撑。推动发展高新技术产业群，培育新的经济增长点。我们就是要依靠科学技术的重大突破，创造新的社会需求，催生新一轮的经济繁荣。
Third, make energetic efforts for progress and innovation in science andtechnology. Science and technology are of fundamental importance inovercoming the financial crisis. A major crisis is usually followed by arevolution in science and technology, and no economic recovery is possiblewithout technological innovation. We are stepping up the implementation ofthe National Program for Medium- and Long-Term Scientific andTechnological Development, with special emphasis on 16 major projectsincluding core electronic devices, development and use of nuclear energyand advanced numerically controlled machine tools. We will strive to makebreakthroughs in a host of core technologies and key generic technologiesto support sustainable economic growth at a higher level. We will promotethe development of high-tech industrial clusters and cultivate neweconomic growth areas. All in all, we will rely on major breakthroughs inscience and technology to foster new social demand and bring about a newround of economic boom.
四是大幅度提高社会保障水平。继续提高企业退休人员基本养老金，提高失业保险金和工伤保险金标准，提高城乡低保、农村五保等保障水平。积极推进医药卫生体制改革，力争用三年时间基本建成覆盖全国城乡的基本医疗卫生制度，初步实现人人享有基本医疗卫生服务。我们坚持优先发展教育，正在制定《国家中长期教育改革和发展规划纲要》。我们实施更加积极的就业政策，重点解决高校毕业生和农民工就业问题。开辟就业岗位，缓解就业压力。我们采取这些措施，把扩大国内需求、调整振兴产业、加强科技支撑、强化社会保障结合起来，把拉动经济增长和改善民生、增加就业结合起来，把克服当前困难和促进长远发展结合起来。这样做，有利于中国的发展，也将给包括英国在内的世界各国企业带来巨大的商机。