19.7.2双语：李克强总理达沃斯论坛答问及同代表对话实录

Transcript of Premier Li’s Dialogue with WEF Chief and Representatives of International Business, Financial, Academic and Media Communities at the Annual Meeting of the New Champions 2019

李克强在2019年夏季达沃斯论坛开幕式发表特别致辞后答问以及同各界代表对话交流实录

李克强在2019年夏季达沃斯论坛开幕式发表特别致辞后回答问题以及同国际工商、金融、智库、媒体界代表对话交流实录

Transcript of Premier Li Keqiang’s Dialogue with WEF Chief and Representatives of International Business, Financial, Academic and Media Communities at the Annual Meeting of the New Champions 2019

2019年7月2日上午，国务院总理李克强在大连国际会议中心出席2019年夏季达沃斯论坛开幕式并发表特别致辞后，回答了世界经济论坛主席施瓦布的提问。当日下午，李克强在大连国际会议中心同出席2019年夏季达沃斯论坛的国际工商、金融、智库、媒体界代表对话交流。有关问答和对话交流实录如下：

On the morning of 2 July 2019, following his address at the Opening Ceremony of the Annual Meeting of the New Champions 2019 held in Dalian, Premier Li Keqiang of the State Council took a question from Executive Chairman of the World Economic Forum Klaus Schwab. In the afternoon, Premier Li sat down for a dialogue with representatives of the international business, financial, academic and media communities attending the Annual Meeting. Below is a transcript of these interactions:

Klaus Schwab: Thank you, Mr. Premier, for your great address, particularly for highlighting the new champions. We have established such a gathering of dynamic companies here at the Summer Davos. In the end, many of them will become big multinationals of tomorrow. Let me highlight what you just told us - the reform and opening-up process will be continued. I’m happy to hear it. The dynamics of the Chinese economy are still in place. China, when we speak about its 6% growth, still leads the economies of G20 countries. My question is, if the global economy worsens, what measures will the Chinese government undertake to maintain stable growth?

施瓦布：尊敬的李总理，感谢您的精彩致辞。您强调了新领军者的重要作用，夏季达沃斯将全世界新领军者聚在一起进行交流。我相信，今天这里的新领军者明天会成为跨国企业家，我很高兴听到中国继续推进改革开放，中国经济依然充满活力。在二十国集团中，中国6%的经济增速是非常高的。我的问题是，当前世界经济减速的背景下，中国如何保持经济增长活力？

李克强：刚才我在致辞中已经讲到中国经济保持稳，实际上是稳中有进。因为我们是在高水平上的增长，今年6%－6.5%的增长目标实现了，实质上就是进，是不小的进。习近平主席前不久在二十国集团领导人大阪峰会上，进一步深刻阐述了中国关于经济全球化的立场和主张，再次表明愿与国际社会一道引导经济全球化朝正确方向发展。我刚才又讲到，大家都在一条船上，现在世界经济有放缓趋势，这就会对中国经济稳中有进造成新的压力。中国经济本身也有需要解决的内在问题，这些都需要我们采取积极的应对措施，而不是、也不可能像民间俗语所说的“站在西瓜皮上，滑到哪儿是哪儿”。中国有近14亿人口，我们要努力实现经济持续发展和民生不断改善。所以，今年年初我们已经制定了应对复杂局面的措施，包括我刚才讲的，在连续几年减税的基础上实施更大规模的减税降费措施，法定的税和费全年要减近2万亿元人民币，也就是说3000亿美元。这给企业会减轻很大负担。而且据我了解，很多企业把减税的钱不是用来发工资、搞福利，而是用来研发投入，来推动企业未来有更大的发展空间。当然，随着发展，员工的收入也会逐步提高。

Premier Li Keqiang: As I said in my speech, the Chinese economy maintaining stable growth is in itself progress, as it is growth at a higher level and achieving the target of a growth rate between 6% and 6.5% this year would be no small feat.

At the recently concluded G20 Osaka Summit, President Xi Jinping further elaborated >’s position and propositions >’s readiness to work with the international community in steering economic globalization in the right direction. And as I explained just now, we are like passengers in the same boat. The slowing global economy has put new pressure on the steady and sound growth of the Chinese economy, which already faces its own issues. All this requires us to take the initiative to respond. We can never sit idly by when things keep sliding on a piece of watermelon skin, as a Chinese saying goes.

In a country with nearly 1.4 billion people, we are working hard to grow the economy and improve people’s livelihood. To this end, the Chinese government formulated measures earlier this year to cope with the complex situation. As I mentioned in my speech, on the basis of tax cuts for several years in a row, we have been implementing larger-scale cuts in taxes and fees, which will reduce statutory taxes and fees by close to two trillion RMB yuan, or about 300 billion US dollars, for the whole year. This will significantly lighten the burden on businesses. To my knowledge, many businesses have spent the money thus saved not on wages or welfare for their employees, but more on research and development. This will give them greater space for future growth and allow for gradual increases in the income of their employees.

昨天我见到一些企业家，他们说，几乎所有企业反映更大规模减税降费，是他们感受到的最公平、最直接、最有效的措施。但是，现在政府财政收支矛盾确实凸显，我们今年下半年要做到的就是坚决兑现减税降费承诺。让人民过好日子，政府当然要过紧日子，我们有办法。我刚才讲到让政府过紧日子，人民过好日子，不少人鼓掌。看来你们的确希望继续过好日子，政府理所应当过紧日子，把自身开支扣得紧一点。让人民过好日子，就要让企业、市场主体有一个更好发展的环境、营商的环境，让他们可以更好发挥市场主体的创造力，所以我们第一个重要措施就是推进“放管服”改革，打造市场化、法治化、国际化的营商环境，这是我们今年重点工作之一。刚才我已经解释了，不多说。

In my meeting with some business leaders yesterday, they told me that almost all the businesses they knew saw the deeper tax and fee cuts as the fairest, and most direct and effective measure. Yet this means greater pressure >’s fiscal balance. In the second half of this year, the Chinese government is resolute in following through on all the tax and fee cuts. To deliver a better life for the people, the government will have to tighten its belt. And we will see that our goals will be achieved. The warm round of applause just now tells me that the audience agrees that for people to live a better life, it is natural for the government to tighten its belt, and we will do so.

We are working hard to deliver a better life for our people. For that we need to foster a more enabling environment for businesses and other market entities, so as to boost their creativity. To make this happen, our first priority task this year is to continue to delegate powers, improve compliance oversight, and deliver better services in order to create a world-class, market-oriented business environment governed by a sound legal framework. I will not go into details, as I elaborated on this point just now.

要在民生需求当中寻找投资和消费的热点，让我们扩大有效投资和消费的举措最终或者更直接适应民生需求，让民生不断改善，这正是中国巨大市场潜力所在。13年前在这里举办夏季达沃斯论坛的时候，谁能想到，中国今天能发展到有13亿部手机？那个时候大概只有1亿部，这么快的速度，而且手机都是个人的，这一个例子就能说明中国人蕴藏的消费潜力有多大。所以说，稳定中国经济，顶住下行压力并且实现稳中有进、稳中向好，关键还在于激发1.1亿市场主体的活力，挖掘近14亿人市场消费等诸多方面的潜力，这是中国经济长期向好的支撑。谢谢！

We need to identify the key areas of investment and consumption to match people’s needs for a better life. We will make sure that our measures to boost such investment and consumption will either directly or ultimately go into improving people’s well-being, wherein lies the huge market potential in China. When the Summer Davos Forum was inaugurated here 13 years ago, there were only about 100 million cell phones in China. Who would have imagined that the number would jump to 1.3 billion for individual users today? That is a telling example of the great market potential in China.

In a word, to ensure steady and sound economic development amid the downward pressure, the key is to boost the dynamism of the 110 million market players and unlock the consumption potential of nearly 1.4 billion Chinese people. This will help us realize sustained economic growth in the long run. Thank you.

Klaus Schwab: Your Excellency Premier Li Keqiang, what a pleasure to have you back here for more intense dialogue with the participants. I have to say your speech this morning had a great impact. I had the reaction of the participants. But I know already now we have over 1,000 news stories around the world and all major media referred to your speech. There was particular interest for your laying out further reform processes, particularly also access for the securities market. And I think your speech this morning helped to ensure that there is continued confidence in China’s growth and development potential.

I now call on the participants to raise questions.

施瓦布：尊敬的李克强总理，非常感谢您参加与各界代表对话会。您上午的致辞产生很大的影响，现场我们已经感受到观众的热烈反响，在您致辞之后全球主要媒体已经发布一千多条报道，重点关注深化改革政策，中国证券市场的进一步开放等。您的特别致辞让我们对中国经济增长和未来发展有了新的信心。下面请与会代表提问。

Patrice Tlhopane Motsepe, Founder and Chairman of African Rainbow Minerals: Thank you very much for the excellent speech at the opening session this morning. China has been a trustworthy and loyal business and trading partner to the developing world, Africa, and the rest of the world. We are committed to ensuring that the win-win trading and business partnerships continue for the benefit of the people of China, Africa and the rest of the world. Now the Foreign Investment Law of the People’s Republic of China was promulgated by the National People’s Congress this March and will come into effect next year. According to official explanation, the Foreign Investment Law emphasizes the promotion and protection of foreign investment which will improve openness, transparency and predictability of China’s investment environment as you emphasized this morning. As a foreign company that has invested and has been operating in China for many years, we pay close attention to this law. I would like to ask what fundamental changes this law will bring to China’s business environment? And also, how does China ensure that this law is implemented in real earnest across your country?

非洲彩虹矿业公司创始人及董事会主席帕特里斯·莫特赛比：首先感谢李总理今天上午的精彩致辞。我们知道中国是非洲等发展中世界以及世界各国可信赖的贸易伙伴，我们希望能够进一步推进同中国互利双赢的贸易伙伴关系，为中国和非洲乃至全世界人民带来更大的福祉。我的问题是关于《外商投资法》，我们知道《中华人民共和国外商投资法》已于今年3月经全国人民代表大会通过，并将于明年实施。《外商投资法》强调对外商投资的促进和保护，提高中国开放的透明度、开放度和关注度，您今天上午的讲话也强调这一点。作为在中国投资多年的外资企业，我们非常关注，想问该法将对中国的营商环境带来哪些根本变化，中国如何确保该法在全国各地切实执行？

李克强：中国和非洲同属发展中国家行列，我们之间有着互补优势，在平等合作的基础上完全可以实现互利共赢。

Premier Li: China and African countries all belong to the developing world. We have much to offer each other. By pursuing cooperation on an equal footing, we can continue to achieve win-win results.

今年3月中国全国人大通过的《外商投资法》，首先是表明中国改革开放40多年来，我们曾经出台的、有利于外商投资中国市场的三部法律的开放原则将继续坚持，它是在三部法律合一的基础上形成的，表明了我们对外开放的连续性。

The Foreign Investment Law adopted by the National People’s Congress in March this year demonstrates the firm commitment of the Chinese government to opening up, which was embodied in the three laws governing foreign investment that have been in force in the past 40-plus years of reform and opening-up. The Foreign Investment Law has consolidated the previous three laws. It shows the Chinese government’s consistent position on opening up.

第二，它显示了新的更加开放的理念，那就是要对外商投资实行准入前负面清单。最近我们刚刚发布2019年版外商投资准入负面清单，将来负面清单的特别管理措施只会越来越减少，开放度会进一步扩大，而且本着“非禁即入”的原则。

Second, the Foreign Investment Law demonstrates a new, more open attitude, which is reflected by a negative list approach to foreign investment. We have just issued the 2019 edition of the negative lists. We will continue to make the lists shorter and open more areas to foreign investment according to the principle that areas that are not on the lists will all be deemed fully open.

第三，就是强调对外商投资者的合法权益，必须有效保护。这部法律里面贯穿了很多有关保护外商投资权益的内容，包括我们还将加大对知识产权保护的力度，对外商投资者，只要在中国注册，与中国企业一视同仁、平等对待。

Third, the Foreign Investment Law stresses the importance of effectively protecting the lawful rights and interests of foreign investors. Quite a portion of the law is devoted to the protection of their rights and interests, including stronger protection of intellectual property rights. It is also stipulated in the law that all foreign-invested companies registered in China will receive equal treatment as their Chinese counterparts.

这是一部显示原则理念的法律，也体现了对上世纪80年代制定的三部吸引外商投资的法律的继承和创新。中国政府正在制定有关配套的法规、规章，争取明年1月1日该法实施的时候一并出台，就是要给外商有一个稳定、透明、可预期的投资环境。中国很大，大家在投资过程中可能会遇到这样那样的问题，但是这部法律是保护合法投资者权益，是向外商更大力度开放。谢谢。

The Foreign Investment Law embodies continuity as it carries forward the principles and concepts developed in the three laws of the 1980s and it has added new and innovative provisions. We are drafting matching regulations and ordinances which will enter into force together with the law on 1 January next year. The goal is to foster a stable, transparent and predictable investment environment for foreign investors. Given the sheer size of China, foreign investors may still encounter some problems in their operations. But one thing remains clear, that is, we will protect the rights and interests of foreign investors and we will make the Chinese market more open.

Takeshi Niinami, CEO of Suntory: Since last year, some manufacturing companies have shifted their production from China to other countries, like Southeast Asia. As a matter of fact, we are in China and we are investing more. How will this trend impact your economy and what are your countermeasures?

日本三得利公司首席执行官新浪刚史：我的问题是，部分制造业企业将原来在中国的生产线转移到东南亚和其他国家，与此同时，我们公司继续在中国投资。我们想问一问，这种趋势对中国的经济发展会产生什么样的影响，中国有何应对措施？

李克强：来自日本的企业家用中文和英文两种语言提问，这本身就表明一种国际化的趋势。经济全球化进程当中，已经形成了一个在稳定的基础上不断改进的全球产业链，这也是各国比较优势和国际分工的必然结果。全球产业链必然会形成你中有我、我中有你。谁的优势强，就能让消费者有更多更好的选择。

Premier Li: The fact that the Japanese business leader asked the question in both Chinese and English shows the trend of internationalization. Economic globalization has shaped a global industrial chain that keeps improving itself >’ economies and interests. Those with stronger competitiveness are able to offer more and better choices to consumers.

至于说产业转移，这从来就是一个伴随全球化竞争产生的现象，全球的产业在形成和发展过程中总是不断转移。就像你刚才提问中说，有的产业可能转到中国以外去了，有的产业选择留在中国。我相信你还会增加在中国的投资。

Industrial relocation has been a common phenomenon in globalized competition. Companies shift their production around the world in the course of industrial development. As you said in your question, while some companies relocated their production outside China, others have chosen to stay here. I trust you will invest more in China.

为什么这么说？因为在去年以来全球外国直接投资下降的情况下，中国的外商投资是增长的，今年前5个月制造业实际使用外资同比增长8%以上。这是因为中国拥有适应全球化需要的产业体系，更有巨大的、具有丰富潜力的市场。我相信，只要是按照自由贸易和市场原则、商业规则，中国在全球产业链中会有更强的竞争力。

Why do I say so? My comment is based on the fact that foreign investment has been increasing in China despite moderating foreign direct investment globally. In the first five months of this year, utilized foreign investment in the manufacturing sector grew by over eight percent year-on-year. This is because China has an industrial system that meets the needs of globalization and a huge market with tremendous potential. I am confident that China will become more competitive in the global industrial chain as long as there is free trade and market principles and commercial rules are followed.

当然，这并不是说中国可以坐等外资的进入，我们还需要不断打造市场化、法治化、国际化的营商环境，进一步加大开放的力度，加大对外来投资者权益的有效保障。

That does not mean that China would sit idle and simply wait for more foreign investment to come in. We will continue to foster a world-class, market-oriented business environment governed by a sound legal framework, step up efforts for opening up, and more effectively protect the rights and interests of foreign investors.

我们都是合作伙伴，应当开展公平竞争。谢谢。

We are all cooperation partners. As such, we should go for fair competition. Thank you.

Kevin Sneader, Global Managing Partner of McKinsey & Company: I have two questions related to innovation, as it affects foreign-invested enterprises. I understand that at a State Council executive meeting in May, a number of measures were studied with regard to improving the innovation capacity of enterprises, specifically for example, increasing R&D investment, improving innovation mechanisms, opening innovation and making it more shareable, and tax incentives and other forms of support. Will these same measures be open and applicable to foreign-invested enterprises? How do you envisage foreign-invested enterprises’ participation in China’s innovation environment?

麦肯锡全球管理合伙人凯文·斯奈德：我有两个关于创新的问题，都是外资企业比较关心的。我们知道5月国务院常务会议研究如何促进企业提高创新能力的措施，确定了包括支持企业增加研发投入、完善创新体制、推动创新资源开放共享、提供税收优惠等措施。我的第一个问题是，这些支持举措是否适用于外商企业？第二个问题是，中方有何具体举措让外资企业融入中国的创新环境？

李克强：中国在发展和推动经济转型过程当中依靠创新，所以出台了一系列支持创新的政策，包括财政方面，对创新活动给予税收优惠；比如对研发投入，采取加计扣除的办法，下一步我们可能还会提高加计扣除的比例；在金融领域，我们支持创投风投的发展，并且为它们提供一系列支持。

Premier Li: Innovation is crucial to China’s pursuit of greater development and economic transformation. We have introduced an array of policies supporting innovation, including tax incentives, such as additional deductions for R&D spending, and the percentage of such deductions will continue to increase. In the financial sector, we are providing support for the development of venture capital.

至于你问到外国企业怎么能够获得中国政府在创新方面的支持？首先，只要在中国登记的企业，不管是外商，还是中国本土的企业，我们都一视同仁，都可以获得中国政府所有出台的创新支持优惠政策。如果哪家企业拿不到的话，可以向政府投诉，现在中国政府也开始接受网上投诉。

As to how foreign companies may access the innovation-supporting policies provided by the Chinese government, let me say that companies registered in China, be they foreign-invested or domestic, will be treated as equals and be eligible for all related policies. Foreign companies may file complaints if they are denied access. The Chinese government has opened online channels for receiving such complaints.

这个获得政策支持的问题很简单，因为我们在政策设计过程当中不管是税制，还是市场准入制度，都是很明晰的。所以只要有违背政策的情况，很快会查清。我们鼓励外国企业在中国投资以后不断推进创新，我们也支持外国企业在中国设立研发中心、创新平台。

Policy support issues would be simple to handle as there are clearly specified policies regarding taxation and market access. If violations do occur, we will be able to swiftly get to the bottom of the issues. And we encourage foreign investors to boost their innovation activities in China, for example, setting up R&D centers and innovation platforms.

创新合作应该是开放的，创新发展也需要开放的环境，中国会继续营造这个环境。为了营造这个环境，我们就必须更加严格地保护知识产权，不允许强制转让技术。企业之间的技术合作应该是自愿的，而且得到应得的利益。去年中国购买使用知识产权的费用比上一年增加了20%以上。

Cooperation in innovation should be open, and the development of innovation needs an open environment. China will continue to foster such an enabling environment. To this end, we must more stringently protect intellectual property rights. No forced transfer of technology will be allowed. Business cooperation in technology should be based on mutual agreement. And companies should get their due share of benefits in this process. Last year, royalty payments by Chinese companies for the use of intellectual property rights increased by more than 20% year on year.

中国平安集团联席CEO陈心颖：尊敬的克强总理，您好，我代表大会国际金融行业问一个金融开放方面的问题。您今天上午在讲话中也谈到中国的金融业将不断开放，我们一方面已经看到中国的银行业、保险业，以及您上午提到的证券业，外资准入门槛不断降低，您上午也提到了一些领域的开放时间会提前到2020年。但是另一方面，中国金融业对内开放的步伐也越来越快，特别是对民间资本的开放，同时我们也注意到有一些网络公司的不当行为导致了包括不少小型投资者在内的投资方的损失，中方将采取什么措施，加强金融监管，切实保护国内外投资者的利益？

Jessica Tan, Co-CEO of Ping An Group: I would like to ask a question about openness of the financial sector on behalf of the international financial industry attending the Annual Meeting. You mentioned this morning that China will continue to open up its financial services industry, in fact, faster than expected in 2020. On the one hand we see the restrictions on various foreign investments in banking, insurance, and securities are being lifted and these sectors are increasingly open. On the other hand, we also see the liberalization of the financial service sector internally being promoted, particularly on private investments. However, there have been some Internet finance companies who have done some wrongdoings, leading to significant losses for investors, many of them small ones. So how would China strengthen the financial services regulation, particularly protecting the interests of investors both at home and overseas?

李克强：要保护国内外投资者的利益，更要保护消费者的权益。中国政府在不断加强监管，当然是公正的监管，这其中就有一些大的前提。首先还是要保持金融稳定。在中国经济遇到新的下行压力的情况下，我们没有超发货币，始终注意保持货币政策的稳健运行，保持人民币汇率在合理均衡水平上的基本稳定。其中一个重要原因就是防止投机炒作，防止投资者和消费者的合法权益受到损失，更重要是保持经济稳定运行，给市场和企业一个向好的预期。

Premier Li: In order to protect the interests of investors at home and abroad and the rights and interests of consumers, the Chinese government has intensified fair and impartial regulation in the broader context of ensuring financial stability. Despite the new downward pressure on the economy, the Chinese government has not resorted to excessive money supply. We have pursued a prudent monetary policy and kept the RMB exchange rate basically stable at an adaptive and equilibrium level. This is to prevent speculation and protect the lawful rights and interests of investors and consumers. More importantly, this is aimed to maintain the steady growth of the economy and provide positive expectations for the market and businesses.

当然，我们说稳定金融，保持货币政策的稳健，并不是说没有预调微调。比如，这几年来我们多次适时降低存款准备金率，加大定向降准的力度。最近我们又研究要采取一系列措施，包括运用一些中长期的融资工具来支持中小银行向中小企业、民营企业贷款，并且降低实际利率。我们扩大开放，实际上不仅给外资进入中国市场以机会，也是推动我们金融业自身在公平竞争的环境下升级，提升运行的质量。

Maintaining financial stability and keeping to a prudent monetary policy does not mean that no anticipatory adjustments or fine-tuning will be made when necessary. The fact is, over the past years, we have lowered the required reserve ratio several times as necessary and intensified targeted cuts in the required reserve ratio. More recent measures include using some medium and long-term financing instruments to support small and medium-sized banks in lending to small and medium-sized enterprises and private companies, and reducing real interest rates. Further opening China’s financial sector to foreign investors not only generates opportunities for them to enter the Chinese market, but also helps the Chinese financial sector to upgrade and run at a higher standard on a level playing field.

在实施合理的调整政策举措的同时，我们要加强监管。因为金融业面向市场有更多的开放，必须保护消费者的权益。最基本的一条，就是依法监管，把合法经营和违法违规经营区别开来。这样监管就可以有效，还不会留下空白。我们既要管好持牌金融机构，也要加强对“无照驾驶”行为的监管。

While adjusting policies and measures as appropriate, we are also intensifying financial regulation. As we make the financial sector more open, we will see to it that the rights and interests of consumers are effectively protected. A fundamental principle that applies here is to conduct regulation and supervision in accordance with the law. A clear line must be drawn between what is lawful and what is not. And the government should then exercise effective regulation accordingly and leave no gaps in such regulation. We must exercise effective oversight over properly licensed financial institutions and step up regulation against unlawful operations which are like driving without a license.

一段时间以来，我们采取了许多措施来治理影子银行风险，打击非法集资，这些都是保护消费者的权益，也保护那些合法投资者的机会。我们还建立了存款保险制度，最近发挥效应了。个别中小银行出现风险，我们运用存款保险制度来进行风险处置。首先是保障存款人，也就是消费者的合法权益，应该说是有效果的。中国的金融业会逐步扩大开放，越来越开放，中国的金融监管也会越来越规范、越来越有效，中国的经济、金融会长期稳定向好。

Over a period of time, we have been taking measures to tackle shadow banking and illegal fund-raising to effectively protect the rights and interests of consumers and opportunities for lawful investors. We have put in place a deposit insurance regime which has played its role in handling risks associated with small and medium-sized banks that have run into difficulties. This regime has worked effectively in protecting, first and foremost, the lawful rights and interests of depositors, namely consumers. Going forward, we will further open China’s financial sector in a step-by-step manner and enhance the quality and effectiveness of financial regulation. This way, we will ensure the long-term steady growth of the Chinese economy and its financial sector.

Flemming Besenbacher, Chairman of Carlsberg Group: Premier Li, thank you for your excellent speech this morning, a very interesting speech. As a university professor, now also a member of Chinese Academy of Sciences, I greatly admire China for your long-term investment in education and research and development. I think this is the only way to combat some of the grand challenges we are seeing in our society today like climate change, environmental change and change in biodiversity. I have two questions for you relating to the private enterprises. The Chinese government has been gradually implementing further tax and fee reduction policies and financial support policies in favor of enterprises, especially private ones. As the external environment today is worsening, will the Chinese government introduce more measures to help private enterprises survive and develop? The second question is, what measures will the government take to unlock the potential of this huge market?

嘉士伯集团主席弗莱明·贝森巴赫：尊敬的李总理，您好，非常感谢您今天上午精彩的致辞。我是来自大学的代表，我们和中国科学院有良好的合作。我一直感叹中国政府对教育和研发投入大量资金，也相信对教育和研发的投入是最佳的方式，能让我们去应对今天面临的挑战，包括气候变化、环境变化和生态多样性的挑战。我有两个问题，都是关于民营企业发展的，中国政府正在逐步落实进一步减税降费政策和金融支持政策，以推进企业特别是民营企业的发展。第一个问题是，中国经济的外部环境日趋不利，中国政府是否会出台更多措施帮助民营企业生存和发展？第二个问题是，中国政府将采取哪些措施释放中国这个大市场的潜力？

李克强：很高兴在这里见到来自大学的教授，我认为达沃斯论坛既是经济论坛，是商界朋友的聚会，也是学界人士参与的重要论坛。这样就可以显示这个论坛既是开放的，也是包容的。

Premier Li: I am happy to see a university professor here. I know the Davos Forum is not just an economic forum for gathering of business leaders, but also an important one for representatives from the academia. This shows that the Forum is both open and inclusive.

现在世界经济增长在放缓，保护主义在抬头，中国经济也面临新的下行压力，它比较直接的体现是对中国的中小企业、民营企业的发展，乃至于有些企业的生存产生影响，所以这是需要我们高度关注的。

In the face of slowing global growth and rising protectionism, China’s economy has also come under new downward pressure, which is reflected in how it has rather directly affected the development of small and medium-sized companies and private firms in China, and even the survival of some enterprises. So, we must pay very close attention to this development.

对经济发展来说，特别是对决策者来说，首要关注的还是就业，而中国的中小企业和民营企业支撑了中国80%以上的就业。他们是支撑中国就业的主要力量，他们创造的经济总量也占到60%以上，所以也是中国经济发展的重要支柱。考虑到中小企业面临的困难，我们在今年年初就出台了普惠性减税的措施，对中小企业，这里面主要是民营企业进行减税两千亿元人民币。此后，今年5月1日，我们对各类企业，特别是制造业企业采取减税的措施，全年总量是1万7千亿元人民币，大量的中小企业会从中受益。现在要把这个举措坚决兑现。

For decision makers in the economic domain, the top priority remains employment. Small and medium-sized companies and private enterprises contribute over 80% to employment in China. They are a key force supporting employment. These companies account for over 60% of GDP. Hence, they are also a key pillar for China’s economic development.

To address the difficulties facing small and medium-sized enterprises, at the start of this year, we introduced general-benefit tax cuts worth 200 billion yuan for small and medium-sized companies, most of which are private firms.

Starting from 1 May this year, we introduced tax cuts for enterprises of various types, especially manufacturing companies, to the tune of 1.7 trillion yuan for the whole year. A large number of small and medium-sized companies stand to benefit. What’s important now is to ensure full delivery of these measures.

但是我们也发现，仅靠财政政策是不够的。现在中小企业、民营企业还面临着融资难、融资贵的问题。而且一般来说，中小企业融资的成本都高于大企业，甚至是明显高于大企业。所以我们要采取措施，把中小企业、民营企业融资的实际成本降下来，而且要明显降下来。我们今年向降一个百分点的方向努力。

We have noted that fiscal measures alone are not enough. Small and medium-sized enterprises and private firms still face difficulties in accessing affordable financing. And the general situation is that these companies face a visibly higher borrowing cost than big companies. We must take measures to bring down the cost meaningfully, and work toward cutting it by one percentage point this year.

考虑到今年经济形势的复杂性，我们已经做了预判，所以适时出台了一系列措施，可以说当前财政方面减税的力度是空前的，而且这个措施是最公平、最直接、最有效的。货币政策我们在保持稳健的过程当中也注意适时适度地微调，应该说现在货币供应量总体上是合理充裕的，问题是在于怎么样通过有效的传导措施，让中小企业、民营企业到今年年底确实感觉到实际利率明显下降了。

We anticipated that the economic environment would be complex this year, and have rolled out a series of measures accordingly. The intensity of the current tax cuts on the fiscal front is unprecedented, and such measures are the fairest and most direct and effective. In terms of the monetary policy, we have taken care to keep it prudent and made appropriate fine-tuning when needed. We could say that the money supply is on the whole reasonably sufficient. The issue now is how to notably bring down real interest rates for small and medium-sized firms and private companies by the end of this year through effective transmission measures.

从宏观政策讲，我们有加大定向降准力度的工具，会适时运用。我们也还有融资的其他方面的工具，定向支持民营企业和中小企业。我认为现在的问题是要把这些政策举措能够有效地传导到企业身上。刚才你们问了很多问题，中国的理念是明确的，将坚持改革开放，打造市场化、法治化、国际化的营商环境。但是，由于各地情况不同，你们可能会碰到这样那样的问题，我们并不否认，也会积极努力去解决，包括提到的民营企业发展当中遇到的困难。我相信，困难在出现过程当中，只要正视它，不断解决它，经济的基本面就一定会保持向好，当然挑战从来都是难以避免的。

At the macro policy level, we have at our disposal such instruments as targeted cuts in the required reserve ratio and will use them when needed. We also have other financing support instruments targeting private companies and small and medium-sized firms. I believe the issue now is to make sure that these policy measures be effectively transmitted to companies.

In a nutshell, the answer to all the questions you asked is that China’s guiding principle is clear: we will keep to reform and opening-up, and foster a world-class, market-oriented business environment governed by a sound legal framework. Yet, given the varying realities across the country, you may encounter problems of >’s economy will remain sound and continue to improve, though challenges would invariably arise along the way.

我同意你刚才所说，发展教育是基础。中国是大家都看得见的近14亿人的大市场，但是中国的发展韧性还在于现在有1亿7千万受过高等教育或职业教育的劳动力。如果我们的人均受教育年限在现在10.5年的水平上再提高1到2年，如果我们受过高等教育和职业训练的劳动力超过2亿乃至3亿，我相信它的创造力是难以估量的，它提供的市场潜力更是巨大的。中外企业的竞争会更加公平，各国之间互为发展的机遇。谢谢。

I agree with what you said that educational development is of fundamental importance. China is a big market of nearly 1.4 billion people for all to see, yet the resilience of the country’s development lies in the current 170-million-plus people who have received higher education or vocational education. If China’s average years of schooling of 10.5 years were to rise by one or two years, and if our population who has received higher education or vocational training would exceed 200 or even 300 million, that would mean immeasurable creativity and enormous market potential. Furthermore, this will contribute to fairer competition between Chinese and foreign companies and hence reinforce the development opportunities for all countries involved. Thank you.

Klaus Schwab: Thank you so much, Mr. Premier. Our business leaders here know how difficult it is to manage a company. Now just imagine to manage an economy with all its impact on society and on employment particularly. And then imagine to manage an economy of 1.4 billion people, and then imagine an economy where you have sometimes headwinds and disruptive surprises in the global environment. But I think your speech this morning and your very detailed, comprehensive responses to the questions raised, sometimes difficult questions, have shown us that the economy is in good hands, you have a good roadmap, and we can have confidence into the future of China. All our best wishes accompany you in your very difficult, challenging but very, very important task, not only for China but for the world.

施瓦布：非常感谢李总理阁下，您知道在座有很多都是工商界的领袖，他们理解管理一个公司的难处，我想请他们想象一下管理一个国家的经济，考虑到对社会和就业的影响，考虑到对14亿人口的责任，这是多么艰巨的一项任务。而且在经济的发展过程当中，可能会遇到逆风，可能会遇到全球环境颠覆性的突发事件、没有想象到的事件。但是在您今天上午的讲话和您刚才对5个问题细致的回答当中，我们能感受到中国经济有强有力的领导力，也有着一幅非常细致的路线图。我们对中国的未来也有信心，我们愿对您和中国政府在未来去承担充满挑战、但是极具重要意义的推动中国发展重要任务上给予更大力的支持和良好的祝愿。

李克强：谢谢施瓦布先生，也欢迎在场的外国朋友们，不管是商界的还是学界的，能够更深入地参与中国的改革开放和现代化进程。我们乐观地面向未来，但正视面临的挑战和困难。我们包容发展，互利共赢，为了中国，也为了世界。

Premier Li: Thank you, Mr. Schwab. All foreign friends present both from the business and academic communities are welcome to involve yourselves more deeply in China’s reform, opening-up and modernization process. We face the future with optimism, yet also confront challenges and difficulties squarely. We are for inclusive development and win-win. This is for China, and also for the world.