Ladies and Gentlemen,

女士们、先生们！

Our region East Asia, home to such economies as ASEAN, China, Japan and the ROK, has a combined population of 2.2 billion, and takes up over one fourth of both the global economic output and trade. Our fast-growing and dynamic region has been an important engine of global growth, thanks to the ever-widening intra-regional openness and cooperation. In the past 20-plus years, intra-regional trade has taken up an increasing share in the overall trade of ASEAN, China, Japan and the ROK, and reached nearly 50% today. Intra-regional investment has surged, so has the number of visits exchanged among regional countries. All these have given a strong boost to the economic growth and living standards in this region.

我们身处的东亚地区，覆盖东盟、中日韩等经济体，拥有22亿人口，经济总量、贸易总额均超过全球的四分之一，区域经济增速快、活力强，是世界经济发展的重要引擎之一。这得益于区域内开放的不断扩大、合作的不断加强。过去20多年来，东盟和中日韩区域内贸易占比不断提高、目前接近50%，区域内投资大幅增长，人员往来成倍增加，有力促进了各国经济发展和民生改善。微博@高斋翻硕 公众号:高斋翻译学堂

East Asian cooperation enjoys unique advantages, a solid foundation and bright prospects. Geographic proximity and similar cultures have nurtured a long-standing friendship among us. The different stages of development, resource endowments and industrial structures have made us highly complementary and deeply integrated in the industrial and value chains and increased the potential of our cooperation. To fully unlock this potential, we must go with the trend of economic globalization and make more institutional arrangements for regional trade and investment liberalization and facilitation.

东亚合作优势独特、基础扎实、前景广阔。我们山水相连、文化相通，传统友谊源远流长。区域内国家和地区处在不同发展阶段，资源禀赋和产业结构互补性强，产业链、价值链深度融合，深化合作具有巨大的潜力。要把这些潜力充分释放出来，必须顺应经济全球化趋势，在推进区域贸易和投资自由化便利化方面作出更多制度安排。

At the summits on East Asian cooperation last year, we all agreed to pursue opening-up and cooperation at a higher level and work toward an early establishment of an East Asia Economic Community. This is a long-term, comprehensive undertaking that requires sustained, step-by-step efforts.

在去年的东亚合作领导人系列会议上，各方都愿意推动更高层次、更高水平的开放合作，朝着早日建成东亚经济共同体的方向努力。这是一项长期的、系统的工程，需要一步一步扎实往前走。微博@高斋翻硕 公众号:高斋翻译学堂

We could use the Belt and Road Initiative as an opportunity to enhance connectivity and advance big project cooperation. We must fully leverage the existing regional cooperation frameworks, accelerate the upgrading of existing FTAs or sign new ones, and expand industrial capacity cooperation and third-market cooperation. The RCEP covers nearly half of the world's population and close to one third of global trade. Its conclusion on the basis of WTO rules will contribute to regional integration. This year has seen substantial progress in RCEP negotiations. China will continue to follow a win-win and flexible approach and work with other parties to advance negotiations. We hope all parties will make concerted efforts toward concluding the negotiations in 2019, with a view to securing a modern, comprehensive, high-standard and mutually beneficial agreement. We also need to strengthen cooperation on health, education, culture, tourism and poverty reduction, and expand people-to-people and subnational exchanges tostrengthen the bond between our peoples.微博@高斋翻硕 公众号:高斋翻译学堂

我们要以共建“一带一路”为契机，加强互联互通，推进重大项目建设。我们要充分利用现有区域合作机制，加快升级或新签自贸协定，拓展国际产能合作和第三方市场合作。“区域全面经济伙伴关系协定”（RCEP）将覆盖世界近一半人口和近三分之一的贸易量，基于世贸组织规则，有利于地区国家推进区域一体化。今年RCEP谈判已取得实质性进展。中方将采取互利、灵活的态度同各方继续推进谈判。希望各方共同努力，争取在2019年结束谈判，达成全面、现代、高水平、互利的协定。我们要推进卫生、教育、文化、旅游等领域合作，加强减贫合作，扩大民间和地方友好交往，让东亚人民走得更近更亲。

East Asian cooperation cannot thrive without a peaceful and stable environment, which requires the efforts of all parties. We need to pursue common, comprehensive, cooperative and sustainable security, deepen mutual political trust, respect and accommodate each other's legitimate security concerns, and address differences and disagreements through dialogue and consultation.

东亚合作离不开和平稳定的环境。这需要大家共同努力。我们应坚持共同、综合、合作、可持续的安全观，深化政治互信，尊重和照顾各方合理的安全关切，通过对话协商解决矛盾分歧。微博@高斋翻硕 公众号:高斋翻译学堂

The South China Sea has seen greater stability and easing of the situation. China is ready to work with ASEAN countries to fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea (DOC), deepen practical maritime cooperation, and strive to conclude consultations on a Code of Conduct (COC) in the South China Sea in three years' time on the basis of consensus. This will go a long way to advancing regional peace and development.

当前南海局势趋稳趋缓，中方愿与东盟各国共同努力，全面有效落实《南海各方行为宣言》，深化海上务实合作，在协商一致基础上，争取未来3年完成“南海行为准则”磋商，助力地区和平与发展。微博@高斋翻硕 公众号:高斋翻译学堂

The Chinese nation loves peace and upholds justice. We believe in harmony in diversity and amity with one's neighbors. China will unwaveringly pursue peaceful development and will never impose its will on others. No matter how developed it may become, China will never seek hegemony or expansion. We will continue to follow the policy of building friendships and partnerships with all neighbors in keeping with the principle of amity, sincerity, mutual benefit and inclusiveness. We will endeavor to be a trustworthy and reliable partner for regional countries.

中华民族历来热爱和平、追求正义，讲求以和为贵、和而不同、敦亲睦邻。中国坚定走和平发展道路，不会把自己的意志强加于人，无论发展到什么程度，永远不称霸，永远不搞扩张。中国坚持与邻为善、以邻为伴，秉持亲诚惠容理念，努力做地区国家信得过、靠得住的真诚伙伴。微博@高斋翻硕 公众号:高斋翻译学堂

Ladies and Gentlemen,

女士们，先生们！

This year marks the 40th anniversary of China's reform and opening-up. In the past four decades, China has achieved tremendous progress in its development and transformative changes in the country. China's GDP registered an average annual growth of 9.5%, which made our country the second largest economy in the world. People's lives have significantly improved from shortage and poverty to abundance and moderate prosperity. More than 700 million people have been lifted out of poverty. Those of you who are regular visitors of China may have personally witnessed such changes. China's development has not just benefited its own people but the whole world. In recent years, it has contributed over 30% to global growth and 70% to that of East Asia.微博@高斋翻硕 公众号:高斋翻译学堂

今年是中国改革开放40周年。40年来，中国发展取得了举世瞩目的成就，国家面貌发生了翻天覆地的变化。国内生产总值年均增长9.5%，经济总量跃居世界第二位；人民生活水平显著提高，从短缺走向充裕、从贫困走向小康，7亿多人口告别贫困。在座的朋友有的可能多次去过中国，会对中国的巨大变化有切身感受。中国的发展不仅造福了中国人民，也惠及了世界。近些年中国对世界经济增长的贡献率超过30%，对东亚经济增长的贡献率达到70%。

What is the fundamental reason for China's fast development over the years? In the final analysis, it has been down to the hard work and perseverance of the Chinese people in the face of difficulties and hardships. The Chinese nation is known for its industry, wisdom and fortitude. We have made continuous efforts to deepen reform, free up prices and the market overall, and remove institutional barriers and unreasonable restrictions, thus unlocking people's entrepreneurship, creativity and drive for innovation. In recent years, we have advanced the reform of streamlining administration and delegating powers, and adopted a prudent yet accommodative regulatory approach. As a result, the number of market entities has seen exponential growth, to the tune of more than 100 million today. Emerging industries have flourished, and traditional industries are being transformed at a faster pace. A powerful new driving force has thus been created for the sustained and sound growth in our country.

中国这些年的迅速发展靠的是什么？说到底是中国人民筚路蓝缕、千辛万苦干出来的。中华民族自古以勤劳智慧著称于世，人民之中蕴藏无穷无尽的力量。我们不断深化改革，放开市场、放开价格，破除各种不合理的制度障碍和限制，放手让人民的创业、创造、创新活力竞相迸发。近年来我们推进简政放权等改革，实施包容审慎监管，市场主体数量爆发式增长，目前已超过1亿户；新兴产业蓬勃发展，传统产业加快重塑。这些汇聚形成了强大的发展动能，推动了中国经济持续健康发展。微博@高斋翻硕 公众号:高斋翻译学堂

Another factor contributing to China's achievements has been opening-up, which has helped China to leverage its comparative advantages and raise its competitiveness and development level by integrating it into the global division of labor and industrial and value chains. In this process, we have also endured huge pressure, paid a high price, and experienced growing pains. Some obligations China assumed upon WTO accession far exceeded what was required of a developing country and even approached the level of a developed member. For example, China undertook to cut tariffs for agricultural products to around 15%, only one quarter of the world's average level and lower than that of many advanced economies. Some industries in China were inevitably affected in the open marketplace, leading to bankruptcies and layoffs. In some sectors, domestic brands came to be outnumbered by foreign ones, such as in passenger vehicles.

中国的发展成就，也得益于对外开放。开放使中国融入了全球分工体系和产业链、价值链，发挥了比较优势，提高了竞争力和发展水平。在这个过程中，我们也承受了很大压力、付出了很大代价、经历了很多阵痛。我们加入世贸组织时，部分领域承担的义务远超发展中成员，甚至接近发达成员。比如，中国承诺农产品关税降至15%左右，仅为世界平均水平的1/4，低于很多发达国家。中国一些行业在开放中不可避免地受到冲击，有的企业倒闭、工人下岗。有的商品市场国外品牌居多，比如乘用车。微博@高斋翻硕 公众号:高斋翻译学堂

Yet, we view these developments with an open mind and from a win-win perspective. We value good faith. To date, we have delivered on all our WTO commitments and even outperformed some of them by taking voluntary measures of opening-up, including making multiple rounds of tariff cuts that have brought our average tariff level down to 7.5 percent. Between 2001 and 2017, China's import of goods and services reached $20 trillion and $3.7 trillion respectively with annual growth rates of 13.5 percent and 16.7 percent, 6.9 and 8.8 percentage points higher than the world average. This year, import of both goods and services has seen double-digit increase. In its pursuit of greater opening-up, China has made important contributions to global economic and trade growth.微博@高斋翻硕 公众号:高斋翻译学堂

对此，我们始终以互利共赢的开放心态来看待。中国人是重诺守信的，目前我们不仅全面履行了加入世贸组织时的各项承诺，还主动实施了超出承诺的开放举措。我们多次自主降低关税，目前关税总水平已降至7.5%。2001-2017年，中国货物进口额累计20万亿美元，年均增长13.5%，高出全球平均水平6.9个百分点；服务进口额累计3.7万亿美元，年均增长16.7%，高出全球平均水平8.8个百分点；今年以来，中国货物和服务进口均保持两位数增长。中国对外开放的不断扩大，为促进全球经济贸易增长作出了重要贡献。

Some foreign friends may wonder whether China remains a developing country now that it is the second largest economy in the world. To understand a country as large and populous as China and to determine its development stage, one needs to take a comprehensive and multi-dimensional view and put things in perspective. Yes, China has a big economic aggregate. Yet its per capita GDP is merely about 80% of the world average and less than one sixth that of Singapore. Yes, China is seeing fast growth in new industries and new forms and models of business. Yet its traditional industries, still a considerable share of the economy, urgently need transformation and upgrading. Hence China's overall industrial development remains at a medium-low level in the global context.

有外国朋友问，中国已是世界第二大经济体，还是不是发展中国家？认识像中国这样一个地域辽阔、人口众多的国家，判断其发展阶段，要全面、立体、多角度地观察。中国经济总量大，但目前人均国内生产总值只相当于世界平均水平的80%左右、不到新加坡的六分之一。中国近些年新产业、新业态、新模式发展快，但传统产业比重大、改造提升任务繁重，产业总体上在全球处于中低端。微博@高斋翻硕 公众号:高斋翻译学堂

Yes, some Chinese cities may seem modern and the coastal areas fairly advanced. Yet there are significant disparities in development between rural and urban areas and among different regions. Primitive infrastructure remains a big challenge for many places in China's rural areas and some remote regions, where access to roads, electricity and the internet has only just been provided. China has nearly 600 million people living in the rural areas and more than 200 million migrant workers, who live and work under conditions far below what is available to urban residents. Our estimate at the end of last year put the number of rural residents with a per capita annual income of less than 3,000 RMB yuan at over 30 million. Furthermore, China lags far behind developed countries in education, elderly and medical care and health. All these realities speak to the fact that China remains a developing country, and there is still a long way to go before China achieves modernization.微博@高斋翻硕 公众号:高斋翻译学堂

中国的有些城市比较现代、沿海地区比较发达，但城乡区域发展不平衡，广大农村和一些偏远地区基础设施仍很落后，有的刚刚通路通电通网。中国有近6亿农民、2亿多农民工，生产生活条件远未达到城市居民水平。去年底在农村还有3000多万贫困人口，人均年收入不到3000元人民币。中国的教育、养老、医疗、卫生等社会保障和发达国家差距很大。由此可见，中国仍然是一个发展中国家，实现现代化还有很长的路要走，需要付出艰苦努力。

China has come this far thanks to reform and opening-up, which will continue to serve as a key driver for development. Yet still there has been no shortage of doubts and misgivings about China's commitment to reform and opening-up. As I see it, such concerns are unnecessary. Why should China take a pause, slow down the pace, or even backpedal in its reforms when reform and opening-up has brought such tremendous changes and benefits to our country and its people? Reform and opening-up enjoys broad public support as it represents the will of the people. It is the default option for China in pursuing greater progress. Our reforms will only intensify and our door will only open wider to the world.

中国过去发展靠改革开放，今后发展还得靠改革开放。有人对中国的改革开放老是有这样或那样的担心和疑虑，这是完全没有必要的。改革开放给中国带来那么大变化、给人民带来那么多实惠，怎么可能会停下来、慢下来甚至走回头路？改革开放在中国早已深入人心，是全体人民的共同意志，是推动发展的“默认选项”。今后改革的力度只会越来越强、开放的大门只会越开越大。微博@高斋翻硕 公众号:高斋翻译学堂

China is committed to market-oriented economic reform. We will work to remove institutional obstacles and see that the market plays a decisive role in resources allocation and the government better fulfills its responsibilities. Putting the concerns of people and businesses at the front and center of its agenda, the Chinese government will continue to streamline administrative approval procedures, exercise fair and impartial regulation and provide more efficient services. We will strengthen protection of property rights and abolish all regulations and practices that impede the development of a unified market and a level playing field in order to further improve the business environment.

市场化改革是中国经济体制改革的方向。我们将着力消除体制机制障碍，使市场在资源配置中起决定性作用，更好发挥政府作用。我们将聚焦群众和企业关切，持续简化各类行政审批、推进公平公正监管、提高政府服务效能，加强产权保护，废除妨碍统一市场和公平竞争的各种规定和做法，进一步改善营商环境。微博@高斋翻硕 公众号:高斋翻译学堂

The reform to transform State-owned enterprises (SOEs) into standard companies and joint-stock companies has been basically completed. It is entirely up to the SOEs themselves to make business decisions and take responsibility for any profits or losses. Those that perform poorly will be put out of business or closed down. In our laws and regulations, there is no provision on subsidies or special policies that favor SOEs. Continued efforts will be made to deepen the reform of SOEs and State-owned assets, including mixed ownership reform in an active and prudent manner. Foreign investors are welcome to participate in the reform and restructuring of Chinese SOEs. The private sector, an important part of the Chinese economy, will receive greater support. And targeted measures will be taken to ease their difficulties in accessing affordable financing. China's industrial policy, which is transparent and in line with international rules, provides fair and equal treatment to enterprises of all types of ownerships.

中国的国有企业基本完成了公司制、股份制改革，是自主决策、自负盈亏的市场主体，经营不善就会被淘汰、会倒闭，法律法规没有专门针对国企的补贴规定和特殊优惠政策。我们将深化国资国企改革，积极稳妥推进混合所有制改革，欢迎外资参与中国的国有企业改制重组。民营经济是中国经济的重要组成部分，我们将加大对民营企业的支持力度，采取针对性措施缓解融资难融资贵问题。中国的产业政策是透明的、符合国际通行规则的，对各种所有制企业一视同仁、平等对待。微博@高斋翻硕 公众号:高斋翻译学堂

China is committed to building an open economy at a higher level. We will further ease restrictions on market access, shorten the negative list for foreign investment, and accelerate the opening of financial and other modern services sectors. To break new ground in opening-up, we will continue to improve the quality of pilot free trade zones and explore the development of free trade ports, to foster new highlights in our opening-up endeavors. We will take more active steps to lower tariffs and facilitate customs clearance to expand import of quality goods and services. The first China International Import Expo concluded a few days ago was an earnest initiative to open China's market to the rest of the world and a solid step to support free trade. A total of 172 countries, regions and international organizations and more than 3,600 enterprises participated in the event, attracting more than 400,000 domestic and overseas buyers. The Expo saw booming sales and deals worth $57.83 billion reached for intended purchase of goods and services within a year.

中国致力于发展更高水平的开放型经济。我们将进一步放宽市场准入限制，压缩外商投资准入负面清单，加快金融等现代服务业对外开放步伐。我们将继续提高自由贸易试验区建设质量，探索建设自由贸易港，打造对外开放新高地。我们将积极扩大进口，进一步降低关税，提高通关便利化水平，扩大国外优质商品和服务进口。刚刚闭幕的首届中国国际进口博览会，是中国主动向世界开放市场、支持自由贸易的务实举措，吸引了172个国家、地区和国际组织参会，3600多家企业参展，境内外采购商超过40万人，按一年计，累计意向成交578.3亿美元，取得了丰硕经贸成果。微博@高斋翻硕 公众号:高斋翻译学堂

The recent fluctuations in the RMB exchange rate have prompted some discussions and concerns. Persistent depreciation of the RMB will only do more harm than good to China. Therefore, we will not engage in competitive devaluation. Instead, we will work to create conditions for keeping the value of the yuan stable. Given the healthy fundamentals of the Chinese economy, the sound balance of international payments and abundant foreign exchange reserves, there is no basis for persistent depreciation of the RMB. There is every reason that the RMB exchange rate will remain basically stable at an adaptive and equilibrium level.

一段时间以来，人民币汇率走势出现一定幅度波动，引发不少议论和担忧。人民币单向贬值对中国弊多利少，中国绝对不会搞竞争性贬值，相反还要为汇率稳定创造条件。中国经济基本面稳健、国际收支平衡、外汇储备充裕，人民币汇率不具备单边贬值的基础，完全可以在合理均衡水平上保持基本稳定。微博@高斋翻硕 公众号:高斋翻译学堂

Stringent IPR protection is crucial for all companies, Chinese and foreign-invested alike. It also serves China's own needs for high-quality development. We will align our innovation protection system with international business rules, further improve IPR-related laws and regulations, strengthen law enforcement, handle IPR cases more efficiently, and introduce a more rigorous mechanism of punitive compensation for IPR infringements to deter violations. The Chinese government will never allow forced technology transfer or make technology transfer a precondition for the approval of foreign-invested projects. Innovation can only be self-sustaining and its value fully realized when the outcomes are successfully commercialized. More innovative businesses from around the world are welcome to pursue business success in the Chinese market, which provides a broad stage for innovation application.

严格保护知识产权，是内外资企业的共同关切，更是中国推动经济高质量发展的内在需要。我们将健全与国际经贸规则接轨的创新保护体系，进一步完善相关法律法规，加强执法力量，提升侵权案件审查效率，实施更具威慑力、惩罚力的侵权赔偿制度。中国政府决不允许强制转让技术，审批外商投资项目不以技术转让为前提。创新只有与市场相结合，才能体现价值、不断升级。中国的市场为创新成果应用提供了广阔舞台，欢迎全球更多创新型企业到中国发展。微博@高斋翻硕 公众号:高斋翻译学堂

Ladies and Gentlemen,

女士们，先生们！

China-Singapore friendly relations and cooperation have come a long way in the past forty years. Looking ahead, China is ready to join hands with Singapore to advance the development of the Belt and Road and build the three cooperation platforms of connectivity, financial support and third-party cooperation. Let's make the pie of our trade and economic cooperation bigger, expand innovation cooperation and work to upgrade China-ASEAN cooperation. Continued progress in the China-Singapore all-round cooperative partnership progressing with the times will bring more benefits to our peoples and make new contributions to peace, stability and prosperity of Asia and the world.

过去40年，中新友好合作取得长足进展。面向未来，中国愿与新加坡携手合作，推动共建“一带一路”，打造互联互通、金融支撑、三方合作“三大平台”，做大经贸合作“蛋糕”，拓展创新合作领域，促进中国-东盟合作提质升级。中新与时俱进的全方位合作伙伴关系不断向前发展，必将更好增进两国人民福祉，为促进亚洲和世界的和平、稳定、繁荣作出新贡献！微博@高斋翻硕 公众号:高斋翻译学堂

Thank you.

谢谢！