economic and social development during the period covered by the 13th Five-Year Plan.

 The main development targets for 2016 are as follows:

■GDP growth of 6.5% to 7%;

■CPI increase kept at around 3%;

■creation of at least ten million new urban jobs;

■registered urban unemployment rate kept within 4.5%;

■a steady rise in import and export volumes;

■a basic balance in international payments;

■increases in personal income basically in step with economic growth;

■a reduction in energy consumption per unit of GDP of at least 3.4%;

■further reductions in the release of major pollutants.

In setting a projected growth rate of between 6.5% and 7%, we have taken into consideration the need to finish building a moderately prosperous society in all respects and the need to advance structural reform.It will also help guide market expectations and keep them stable. The aim of maintaining stable growth is primarily to ensure employment and promote the people’s well being, and a growth rate of between 6.5% and 7% will allow for relatively full employment.

A comprehensive analysis of all factors shows that China will face more and tougher problems and challenges in its development this year, so we must be fully prepared to fight a difficult battle.

Internationally, the global economy is experiencing profound changes and struggling to recover; growth in trade is weak; there are fluctuations in the financial and commodity markets; geopolitical risks are rising; and there are increasing instabilities and uncertainties in China’s external environment. We should not underestimate the impact all of this will have on China’s development.

Domestically, problems and risks that have been building up over the years are becoming more evident; the change of pace in economic growth, the difficulties associated with structural adjustments, and the transformation of the drivers of growth present interwoven problems; and downward pressure on the economy is growing.

But we will not be daunted by these problems and challenges. China has from the start been developing while responding to challenges; there is no difficulty we cannot get beyond. Thanks to years of rapid development, China has laid a solid material foundation, and its economy is hugely resilient and has enormous potential and ample room for growth. At the same time, reform and opening up has been injecting new impetus into economic growth, and a wealth of experience has been gained in developing new ways of conducting macro regulation. In addition, we have the guidance of the CPC and the system of socialism with Chinese characteristics, and our people are talented and hardworking. As long as we work together as one to surmount all difficulties, we will definitely achieve the targets for economic and social development in 2016.