2016年CRI Chinese Premier Expresses Confidence to Deal With Complicated Economic Situation

 

Premier¹ Li has urged more communication and coordination² among G20 members to grapple with global economic headwinds.

"Macroeconomic policy coordination needs to be strengthened. The global economic and financial situation may have become more grim and complex. It is time for countries to stand together to tide over difficulties."

He said that major economies should not only be mindful of their own growth, but also watch for the spillover effects of their macroeconomic policies.

Improved global economic and financial governance is also important, which requires a better global monetary³ system and deepened cross-border taxation⁴ cooperation.

Speaking about financial reforms, Premier Li said China will continue to take measures to establish an open, transparent⁵, stable and healthy capital market.

"Based on market supply and demand, we will implement⁶ a floating exchange rate regime with effective management in reference to a Basket of Currencies. There's no basis for continued depreciation⁷ of the Renminbi exchange rate, and the Chinese currency will stay basically stable at a reasonable and equilibrium⁸ level."

Premier Li also highlighted the importance of supply-side structural⁹ reforms while expanding aggregate¹⁰ demand as appropriate.

"Quantitative¹¹ easing policies could hardly remove structural obstacles to growth and instead it may lead to more negative externalities. In this way, our focus should remain on structural reforms. Although different countries may carry out different policies, what is desirable is to support innovation, deregulation, and encourage more competition and greater openness, in a bid to boost the economy."

While facing a variety of risks and challenges, Premier Li pledged that China will further capitalize on its strengths: great economic potential as well as strong resilience and structural flexibility¹².

The G20 Finance Ministers and Central Bank Governors' Meeting in Shanghai wraps up on this Saturday.

Its chief task is to find common ground on how to reboot a struggling global economy in the face of renewed financial and political risks.

For CRI, I'm Xie Cheng.

1 premier   

adj.首要的；n.总理，首相

参考例句：

• The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
• He requested that the premier grant him an internview.他要求那位总理接见他一次。

2 coordination   

n.协调，协作

参考例句：

• Gymnastics is a sport that requires a considerable level of coordination.体操是一项需要高协调性的运动。
• The perfect coordination of the dancers and singers added a rhythmic charm to the performance.舞蹈演员和歌手们配合得很好，使演出更具魅力。

3 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

4 taxation   

n.征税，税收，税金

参考例句：

• He made a number of simplifications in the taxation system.他在税制上作了一些简化。
• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。

5 transparent   

adj.明显的，无疑的；透明的

参考例句：

• The water is so transparent that we can see the fishes swimming.水清澈透明，可以看到鱼儿游来游去。
• The window glass is transparent.窗玻璃是透明的。

6 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

7 depreciation   

n.价值低落，贬值，蔑视，贬低

参考例句：

• She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
• They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。

8 equilibrium   

n.平衡，均衡，相称，均势，平静

参考例句：

• Change in the world around us disturbs our inner equilibrium.我们周围世界的变化扰乱了我们内心的平静。
• This is best expressed in the form of an equilibrium constant.这最好用平衡常数的形式来表示。

9 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

10 aggregate   

adj.总计的，集合的；n.总数；v.合计；集合

参考例句：

• The football team had a low goal aggregate last season.这支足球队上个赛季的进球总数很少。
• The money collected will aggregate a thousand dollars.进帐总额将达一千美元。

11 quantitative   

adj.数量的，定量的

参考例句：

• He said it was only a quantitative difference.他说这仅仅是数量上的差别。
• We need to do some quantitative analysis of the drugs.我们对药物要进行定量分析。

12 flexibility   

n.柔韧性，弹性，（光的）折射性，灵活性

参考例句：

• Her great strength lies in her flexibility.她的优势在于她灵活变通。
• The flexibility of a man's muscles will lessen as he becomes old.人老了肌肉的柔韧性将降低。