五年來的主要工作及特點：

The following are the main work we accomplished over the past five years and its main features:

一是有效應對國際金融危機，促進經濟平穩較快發展。過去五年，我們是在持續應對國際金融危機嚴重沖擊中走過來的。這場危機來勢之猛、擴散之快、影響之深，百年罕見。我們沉著應對，及時果斷調整宏觀調控著力點，出臺進一步擴大內需、促進經濟平穩較快增長的十項措施，全面實施一攬子計劃。兩年新增4萬億元投資，其中中央財政投資1.26萬億元，主要用于保障性安居工程、農村民生工程、基礎設施、社會事業、生態環保、自主創新等方面建設和災后恢復重建。五年來，新建各類保障性住房1800多萬套，棚戶區改造住房1200多萬套；完成大中型和重點小型水庫除險加固1.8萬座，治理重點中小河流2.45萬公里，新增節水灌溉面積770萬公頃；新增鐵路里程1.97萬公里，其中高速鐵路8951公里，京滬、京廣、哈大等高鐵和一批城際鐵路相繼投入運營；新增公路60.9萬公里，其中高速公路4．2萬公里，高速公路總里程達9.56萬公里；新建機場31個；新增萬噸級港口泊位602個；一批跨江跨海大橋、連島工程相繼建成；西氣東輸、西電東送、南水北調等重大工程順利推進或建成；非化石能源快速發展，水電、風電裝機位居世界第一；重建后的汶川、玉樹、舟曲等災區發生了翻天覆地的變化。這些舉世矚目的成就，對我們有效應對國際金融危機嚴重沖擊發揮了至關重要的作用，為經濟社會長遠發展打下了堅實基礎，已經并將繼續造福億萬人民。

我們始終注重處理好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，增強宏觀政策的前瞻性、科學性、有效性，注意把握好政策的取向、力度和重點。在國際金融危機沖擊最嚴重時，果斷實施積極的財政政策和適度寬松的貨幣政策，綜合運用多種財政政策工具，增加政府支出，實行結構性減稅；有效運用存款準備金率、利率等貨幣政策工具，保持貨幣信貸合理增長。根據宏觀經濟走勢的變化，我們及時調整政策力度，適時退出刺激政策，實施積極的財政政策和穩健的貨幣政策。在財政政策運用上，堅持統籌兼顧，注重綜合平衡。財政赤字占國內生產總值的比重從2009年的2.8%降到去年的1.5%左右，赤字率和債務負擔率保持在安全水平。加強地方政府性債務全面審計和地方政府融資平臺管理，有效控制經濟運行中的風險隱患。在貨幣政策運用上，始終注意把握穩增長、控物價和防風險之間的平衡。金融體系運行穩健，銀行業風險抵御能力持續增強，資本充足率從2007年底的8.4%提升到去年底的13.3%，不良貸款率由6.1%下降到0.95%。堅持搞好房地產市場調控不動搖，遏制了房價過快上漲勢頭。2012年，在世界各大經濟體增長全面減速、各種風險不斷暴露的情況下，我們合理把握政策力度，保持財政預算支出規模不變，優化支出結構，扭轉經濟下滑趨勢，全面實現年初確定的主要目標，國內生產總值增長7.8%，城鎮新增就業1266萬人，居民消費價格漲幅回落到2.6%，為今年經濟發展打下好的基礎。

這五年，我國宏觀經濟總體上保持增速平穩較快、物價相對穩定、就業持續增加、國際收支趨于平衡的良好態勢，國內生產總值年均增長9.3%，顯著高于同期全球和新興經濟體的增速，通貨膨脹率遠低于其他新興經濟體。我國經濟穩定，充滿活力。

回首這五年，面對國際經濟形勢復雜多變、持續低迷的嚴峻挑戰，中央科學判斷、果斷決策，有效避免了我國現代化進程因巨大的外部沖擊而出現大的波折，實踐證明這些決策部署是完全正確的。

In the past five years, we averted the grievous consequences of the global financial crisis, whose abruptness, rapid spread and profound impact were rarely seen in the past century. We responded to the crisis calmly, made timely and decisive adjustments to the focus of macro-control, adopted ten measures to increase domestic demand and promote steady and rapid economic growth, and implemented a comprehensive package plan. In a two-year period, an additional four trillion yuan of government investment was made, with 1.26 trillion yuan from the central government, mainly for building government-subsidized housing, improving rural people's wellbeing, building infrastructure, developing social programs, improving the environment, promoting innovation, and carrying out post-disaster recovery and reconstruction.

Over the past five years:

More than 18 million government-subsidized housing units of various types were built, and over 12 million housing units in run-down areas were upgraded.

A total of 18,000 large and medium-sized and key small reservoirs were reinforced, 24,500 kilometers of key small and medium-length rivers were harnessed, and water-saving irrigated farmland was increased by 7.7 million hectares.

A total of 19,700 kilometers of new rail lines were built, 8,951 kilometers of which are high-speed railways.

The high-speed Beijing-Shanghai, Beijing-Guangzhou and Harbin-Dalian railways and a number of intercity railways were opened to traffic.

A total of 609,000 kilometers of new roads were built, 42,000 kilometers of which are expressways, increasing the total length of expressways in service to 95,600 kilometers.

Thirty-one airports and 602 shipping berths for 10,000-ton ships were built.

A number of bridges over rivers and bays and linking islands with other islands and the mainland were completed.

Smooth progress was made in major projects such as those for transporting natural gas and electricity from the west to the east and diverting water from the south to the north, and some of the projects have been completed.

Non-fossil energy production developed rapidly, and China now ranks first in the world in the installed capacity of both hydropower and wind power.

Reconstruction of the Wenchuan, Yushu and Zhugqu disaster areas transformed them completely.

These impressive achievements played a vital role in our effective response to the severe impact of the global financial crisis, and laid a solid foundation for sustaining China's economic and social development. They have benefited and will continue to benefit hundreds of millions of people.

We always strove to maintain a balance between ensuring steady and rapid economic development, adjusting the economic structure, and managing inflation expectations. We made government macro policies more forward-looking, scientific and effective and implemented them with proper orientation, force and focus.

When the impact of the global financial crisis was at its worst, we resolutely implemented a proactive fiscal policy and a moderately easy monetary policy, employed a full range of financial policy tools, increased government spending and made structural tax reductions. We effectively employed monetary policy instruments such as adjusting required reserve ratios and interest rates to maintain proper growth in the money and credit supply.

In response to changing macroeconomic trends, we promptly adjusted the intensity of policy implementation, reduced the force of stimulus policies at an appropriate time, and implemented a proactive fiscal policy and a prudent monetary policy.

We took a holistic and balanced approach in employing fiscal policy. As a result, the government deficit dropped from 2.8% of GDP in 2009 to about 1.5% last year, and both deficit-to-GDP and debt-to-GDP ratios remained at a safe level. We strengthened comprehensive auditing of local governments' debt and management of their financing platforms, thus effectively controlling latent economic risks.

In employing monetary policy, we maintained a balance between ensuring steady growth, maintaining price stability and warding off risks. The financial system functioned soundly. The banking sector became better able to avert risks. Its capital adequacy rate increased from 8.4% at the end of 2007 to 13.3% by the end of last year, and its non-performing loans dropped from 6.1% to 0.95%.

We kept a firm grip on the real estate market and kept housing prices from rising too quickly.

In 2012, when other major economies in the world were experiencing a slowdown in growth and constantly encountered new risks, we maintained a proper intensity in policy implementation, kept budgetary spending unchanged, improved the spending mix, and reversed the decline in economic growth. As a result, we attained all the main targets set at the beginning of the year: GDP grew by 7.8%, 12.66 million urban jobs were created, and the rise in the CPI fell to 2.6%. All this laid a good foundation for China's economic development this year.

Over the past five years:

China's economy as a whole maintained steady and rapid growth.

Prices remained fairly stable.

Employment steadily increased.

The balance of payments moved toward equilibrium.

GDP grew at an average annual rate of 9.3%, considerably higher than the average global rate and the average rate of other emerging economies for the same period.

China's inflation rate was also much lower than that of other emerging economies.

The Chinese economy is stable and full of vitality.

In the last five years, faced with severe challenges posed by a complex and volatile international economic environment and a sluggish global economy, the central leadership, on the basis of a scientific judgment of the situation, made resolute decisions that steered China's modernization drive clear of major pitfalls created by huge external shocks. Experience fully proves these decisions and implementing steps were entirely correct.