Chinese economy finds itself at a crucial stage of transformation. China can no longer continue with the old model of high consumption and high investment. Instead, more efforts should be made to adjust the economic structures and shift the mode of economic growth. We will continue to advance reforms of administrative management, financial sectors and pricing. The service sector will be an increasingly important pillar of our economy. As the biggest job provider, this sector helps ease employment pressure in economic transformation. The upgrading of the Chinese economy will give fresh power to the global economy.