Now, let me turn to the Chinese economy, a subject I know many business leaders are keen to learn more about. In recent years, despite serious challenges posed by a weak world economic recovery and the increasingly acute domestic imbalances that have built up over the years, we have managed to keep economic development within a reasonable range, outperformed most major economies in growth rate and achieved faster structural adjustment and upgrading. In the first nine months of this year, China’s GDP grew by 6.7%, with better quality and efficiency. By and large, the economy remains on an upward trajectory on the basis of steady performance.
Let me give you some facts and figures: the supply of agricultural products is abundant; CPI remains basically stable; industrial growth, corporate profits, import and export, and investment have steadied and rebounded; consumption and the services sector are contributing more to economic growth. It is particularly worth noting that employment has kept steady in China. In the first three quarters, a total of 10.67 million new jobs were created in the cities, and the surveyed unemployment rate in 31 major cities dropped below 5% in September for the first time in years. For a major developing country with more than 1.3 billion people like China, it is never an easy task to ensure relatively sufficient employment, considering that each year, more than 7 million college graduates, over 5 million vocational school graduates plus several million rural migrant workers will be looking for jobs. The sound employment situation has laid a solid foundation for improving people’s life and maintaining social stability.
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