China-US relations have been going forward in spite of various twists and turns in the past several decades. The one-China policy constitutes the political foundation of China-US relations.
It is also true that there are some differences between the two countries. But I believe it’s important for both countries to uphold strategic interests, and sit down to talk to each other.
It may be true that China runs a surplus in its trade with the US. But for his company, the truth is over 90% of the profits go to US firms, and the profit margins for his business is a merely 2-3%. And there are other statistics too. For example, last year, trade and mutual investment between us created up to one million jobs in the United States.
Should a trade war break out between China and the United States, it would be the foreign invested companies, in particular US firms that would bear the brunt of it. We don’t want to see any trade war breaking out between the two countries. That wouldn’t make our trade fairer.
I recall that I once watched a martial arts performance at Shaolin Temple during which a child monk would be able to do over a dozen somersaults at one go quite easily, but even several such consecutive somersaults for an adult monk would be quite an achievement, because they are different in their sizes.
I'd like to point out that the growth target of around 6.5 percent is not a low speed and it will not be easy to meet.
If we can achieve about a 6.5% GDP growth target in 2017, it will generate more additional economic output than we had last year.
We are fully aware of the potential risks, and we will take prompt and targeted measures to prevent them from further spreading. I should point out that China's financial system is generally stable and there is no systemic risk.
As China pursues medium-high speed growth, we need to fasten our seat belts and prevent any acute outburst of financial risks and we will also make sure we will prevent any regional or systemic risk.
We believe that to take a closed-door policy and beggar-thy-neighbor approach will not make anyone a winner in this process.
We will continue to open this country at a higher level and maintain this country as a popular destination for investment. We welcome other partners to work with us to share in the development opportunities in China.
As for liberalization of global trade, we believe all countries need to work together to push it forward. This globe belongs to us all, and we all need to do our bit.
China will continue to remain engaged in and participate in liberalization of global trade. We believe that it's essential for one to seize the opportunities of opening up in globalization. These are opportunities that no one should miss out on.
The core of this reform is to transform government functions and balance relations between the government and the market. This reform of the government cannot be accomplished over night.
In a nutshell, what the government should do is send a resounding message of “yes” to all in the law abiding market entities, flash a green light for “go-ahead” to all the hard-working entrepreneurs and innovators, and seriously deal with all violations of laws and regulations by resolutely showing them a "yellow card" of stern warning, or even a "red card" to send them out of the market.
Government reform to streamline administration, enhance regulation and provide better services is a reform that will upset established interests. It also stirs big change in one’s mindset or thinking, too.
The essence of governance is to always act in the overall interest of the whole country, rather than just acting in one's narrow department or interests.
China has been committed to the denuclearization of the Korean Peninsula, to peace and stability on the Korean Peninsula and to resolving issues through dialogue. That has been China's consistent and clear-cut position.
What we hope is that all the parties concerned will work together to de-escalate the situation, get issues back on the track of dialogue and work together to find proper solutions. It's just common sense that no one wants to see chaos at his doorstep.
Employment is of paramount significance for such a large country as China, with 1.3 billion people.
For the government, its job is to create a good environment and necessary conditions for our people, to use their own wisdom and hard work, and to generate golden opportunities for themselves, rather than just relying on the government to hand them a job.
The Chinese government will not allow massive unemployment in particular groups of people. We believe we have the conditions to prevent it. And the government will also provide assistance to help meet the basic needs of those who have difficulty in getting jobs for the time being and those who have difficulty in meeting their basic needs.
In China, many of these sectors have strong corporate culture themselves with very strong attachment to their old loyal employees. So these companies may even continue to provide some subsidies to their loyal employees to give them a leg-up for what they are going to do next.
Our ancestors believe that one shall have his peace of mind when he possesses a piece of land.
The State Council has asked relevant departments to look at this matter. The renewal of the term will not be any problem. No application needs to be filed. There will be no preset conditions and it will not affect any deal being made over the property.
Some people may say this is not enough. Will there be legal safeguards for this right? I want to tell you that the State Council has entrusted relevant departments to lose no time in coming up with the proposal for revision of relevant laws.
The "One Country, Two Systems" principle needs to be steadfastly applied in Hong Kong without being bent or distorted.
This year, we are considering establishing a bond market connection between the mainland and Hong Kong, allowing for the first time overseas capital to access mainland bond markets from overseas. And Hong Kong will be the first to benefit from such arrangement.
In cutting fees, the government needs to tighten its belt. The central government needs to take the lead in doing so and the requirement for the government this year is to cut its general expenditure by no less than 5%.
We will use these painful adjustments on the part of the government to ensure that things will be much more convenient and easier for our businesses to enhance their competitiveness on the market.
People on the two sides of the Taiwan Straits are brothers and sisters. Blood is thicker than water. No matter how the situation on the island may evolve, this fraternal bond between the two sides cannot be severed.
Our policy towards Taiwan has been consistent and clear-cut — that is, we will continue to adhere to the 1992 Consensus, which embodies one-China principle — as the political foundation, oppose resolutely Taiwan independence.
This kind of preferential policy will be maintained and we hold that people on both sides will share the country’s development opportunities. After all, we are family.
We may not be able to control the weather of nature, but we are able to decide what behavior we will adopt and to transform China's growth model.
The country will set up a special fund to pull together the finest scientists to dig into this matter so that our responses to this problem can be made more effective.