二、经济增长的稳定性和可持续性显著提升

　　当前中国经济发展的良好势头，是近些年中国坚持改革创新、深化供给侧结构性改革、着力培育壮大新动能的结果，具有较强的稳定性和可持续性。经过几年的努力，中国经济增长格局已经悄然发生重大转变，从过度依赖投资、出口拉动转向主要依靠消费、服务业和内需支撑。如今的中国经济，新的市场主体不断涌现，今年以来日均新登记企业1.8万户，战略性新兴产业、高技术产业以10%左右的速度增长，传统产业加快改造提升，最终消费和服务业对经济增长的贡献率均达到60%左右，新动能对经济增长的贡献率超过三分之一、对城镇新增就业的贡献率超过三分之二。当前中国经济正加快向高质量发展转变，增长的稳定性和可持续性显著提升。

II. China's economic growth enjoys notably improved stability and sustainability. 

The sound momentum of China's economic growth is the result of China's commitment to reform and innovation in recent years as well as its unrelenting efforts to upgrade the economic structure and foster stronger internal growth drivers. Hence we expect this growth to be solidly-based and sustainable in the long run. After years of efforts, the Chinese economy has undergone major transition, moving away from reliance on investment and export to being fueled mainly by consumption, the services sector and domestic demand. 

Today, new market entities are thriving in China, with an average of 18,000 businesses registered every day this year. Emerging strategic industries and high-tech industries are growing at around 10 percent. Traditional industries are being upgraded at a faster pace. Final consumption and services both contribute to about 60 percent of overall growth. New growth drivers account for over one third of economic growth and more than two thirds of urban job creation. The transition toward high-quality development is picking up speed, with notably improved stability and sustainability in growth. 

　　三、中国有信心有能力应对外部不确定性

　　当前，世界经济经历深刻调整变革，多边主义和多边贸易体制面临严重挑战。这不可避免将给包括中国在内世界各国的繁荣和发展带来影响。也要看到，中国的经济发展潜力大、韧性强、后劲足。我们的人均GDP还不到1万美元，距离发达国家仍有不小差距。工业化、城镇化、信息化进程方兴未艾，发展空间依然广阔。除了中国经济结构优化、内生发展动力增强等有利因素外，中国财政赤字率和政府负债率较低，商业银行资本充足率较高，企业负债率趋于下降，有足够的宏观调控政策工具可用。以近期人民币汇率变动为例，中国人民银行通过重启逆周期因子，有效稳定市场预期，保持人民币汇率在合理均衡水平上的基本稳定。作为世界第二大经济体，中国有信心、有能力应对各种风险挑战，长期保持经济持续健康发展。 

III. China is confident in responding to external uncertainties. 

At present, the world economy is going through profound transition and changes while multilateralism and the multilateral trading regime are faced with severe challenges. This will have inevitable impact on the prosperity and development of China and the rest of the world. Meanwhile, we see that the Chinese economy boasts vast potential, strong resilience and bright prospects. 

In terms of per capita GDP, China is still below the $10,000-threshold and lags far behind developed countries. Industrialization, IT application and urbanization are in the ascendant, leaving huge space for further development. In addition to economic restructuring, new growth drivers and other favorable factors, the combination of relatively low fiscal deficit ratio and government debt-to-GDP ratio, relatively high capital adequacy ratio of commercial banks, and the paring down of corporate debt have handed us a host of policy tools for macro regulation. 

A good example is how China's central bank recently dealt with Yuan/RMB volatility. The People's Bank of China reapplied to its model of a "counter-cyclical factor". The measure effectively stabilized market expectations, thus enabled Yuan/RMB to remain at a reasonable and equilibrium level. As the second largest economy, China is confident and capable of responding to various risks and challenges and keeping the sustained and healthy growth of its economy in the long term.