We have innovated the model of administrative management. We have continued with the reform to streamline administration, delegate powers, enhance regulation where necessary and provide better services. This government has removed 40 percent of the items that previously required administrative approval of State Council departments, and stepped up efforts to cut taxes and fees. These measures have reduced the institutional transaction costs and burdens on companies, and stimulated the dynamism of market players at the micro level. In the past three years, 12,000 new companies got registered each day in China. In the first four months of this year, the number has exceeded 15,000, and about 70 percent of the companies are active in operation. There are now more than 4,000 maker spaces in China. Together with some 3,000 high-tech incubators and over 400 start-up accelerators, they form a complete chain of start-up incubation services. New industries are thriving, and traditional industries are brimming with new vigor through transformation and upgrading. The new drivers are playing an increasingly important role in stabilizing growth and boosting employment. Although they cannot yet compare with traditional drivers in size, given time, they will open up broader space for China's economic development.

我们创新行政管理模式。持续推进简政放权、放管结合、优化服务改革，本届政府减少了40%的国务院部门行政审批事项，加大减税降费力度，降低了制度性交易成本和企业负担，激发了微观主体的活力。过去三年平均每天新增企业1.2万户，今年前4个月平均每天新增超过1.5万户，企业活跃度保持在70%左右。众创空间数量超过4000家，与3000多家科技企业孵化器和400多家加速器一道，构成创业孵化服务的链条。新兴产业蓬勃兴起，不少传统产业通过改造提升焕发生机，新动能在稳增长、促就业中发挥越来越重要的作用。虽然新动能现在还不能与传统动能等量齐观，但假以时日，一定会撑起中国经济发展更加广阔的天地。

We have innovated the open economic system. We have initiated a new round of high-standard opening-up with the goal of promoting development through openness. In 2015, we amended the Catalogue for the Guidance of Foreign Investment Industries for the sixth time, cutting the number of restricted industries by half. In the latest amendment this year, the number of restricted industries has been reduced by another one third. In 2013, China's first pilot free trade zone was set up in Shanghai, and now the total number has reached 11. The negative list model of foreign investment management is being rolled out nationwide. With the exception of a few sectors, the establishment and major adjustments of foreign-invested companies are now only subject to a simple filing process with the relevant authorities, rather than review and approval. Even with a 13 percent fall in global cross-border direct investment last year, paid-in foreign investment in China has maintained its steady growth, reaching 133.7 billion U.S. dollars in total, still ranking China among the top three in the world. All this fully shows that China remains a competitive and appealing destination for foreign investment.

我们创新开放型经济体制。主动实施新一轮高水平对外开放，以开放促发展。2015年，我们第6次修订外商投资产业指导目录，限制类条目缩减一半。今年我们再次修订目录，限定制类条目又缩减1/3。2013年我们在上海设立第一个自贸试验区，目前增加到11个。负面清单的外资管理模式已在全国范围内推广，除极少数领域外，外商投资企业设立和变更一律由审批改为备案。去年全球跨国直接投资下降13%，但中国实际使用外资保持平稳增长，规模达到1337亿美元，继续居世界前三，充分说明中国仍是具有竞争力和吸引力的外商投资热土。

Ladies and Gentlemen,

女士们、先生们！

Today is the International Children's Day. Children represent hope and the future. China-Germany innovation partnership, which is now off to a good start, is like a child filled with the energy of life and a promising future. I am confident that with the careful nurturing of both sides, China-Germany innovation cooperation will grow into a strong pillar for the development and cooperation of our two countries.

今天是"六一"国际儿童节，儿童代表着希望与未来。中德创新伙伴关系起步良好，如同朝气蓬勃的儿童，前途不可限量。我相信，在双方精心培育下，中德创新合作一定会茁壮成长，挑起两国未来发展与合作的"大梁"！

Thank you.

谢谢大家。