China's reform and opening-up a great process, says Xi

Delivering a keynote speech on Saturday at the Business 20 (B20) summit in Hangzhou, Chinese President Xi Jinping called China's reform and opening-up a great process[改革开放的伟大进程].

Firstly, it is a process of exploration. There has been no precedent in human history for a country with a population of over 1.3 billion to realize modernization, he said.

这是探索前行的进程。一个13亿多人口的大国实现现代化，在人类历史上没有先例可循。

Secondly, it is a process of action and hard work. China has been firmly taking economic contruction as the center, he said.

这是真抓实干的进程。我们紧紧抓住经济建设这个中心不放松...

Thirdly, it is a process of common prosperity. Development for the people, by the people and to the benefit of the people - is the fundamental purpose of China's reform and opening-up and its modernization drive.

这是共同富裕的进程。发展为了人民、发展依靠人民、发展成果由人民共享，这是中国推进改革开放和社会主义现代化建设的根本目的。

Lastly, it is a process during which China has been walking towards the world and the world has been walking to China, said the president.

这是中国走向世界、世界走向中国的进程。

China confident, capable of keeping growth at medium-high speed

China stands at a new historical starting point today. This is a starting point for China to develop a comprehensively deepening reform, to continuously push forward economic and social development, to adjust to new normal by transforming development mode, to continuously be open to and have an in-depth interaction with the world.

今天的中国，已经站在新的历史起点上。这个新起点，就是中国全面深化改革、增加经济社会发展新动力的新起点，就是中国适应经济发展新常态、转变经济发展方式的新起点，就是中国同世界深度互动、向世界深度开放的新起点。

China has confidence and is capable of keeping growth at a medium to high speed and can bring more opportunity to the world when China develops itself.

我们有信心、有能力保持经济中高速增长，继续在实现自身发展的同时为世界带来更多发展机遇。

China will unswervingly[坚定不移地;矢志不渝;毫不动摇地] carry on a comprehensive reform and exploit a more promising future. China has developed a new normal economy. It is the only route for China's economy to evolve into more advanced pattern, more rational structure and more optimized division of labor.

——在新的起点上，我们将坚定不移全面深化改革，开拓更好发展前景。中国经济发展进入新常态，这是中国经济向形态更高级、分工更优化、结构更合理阶段演进的必经过程。

China must carry out reforms if it wants growth at a medium to high speed. Such growth is not possible if China follows the beaten track[因循守旧]. China will lose great opportunity if it is afraid to step out. The direction of China's reform is clear and will not change. China will march forward courageously without hesitation.

要在新常态下保持经济中高速增长，必须依靠改革。因循守旧没有出路，畏缩不前坐失良机。中国改革的方向已经明确、不会动摇；中国改革的步伐将坚定向前、不会放慢。

China's reform have entered a difficult time. (But China has to see the reform to the end with courage and determination). China will continuously push forward supply-side structural reform, solve the main contradiction in the current economic development, improve the quality and efficiency of supply system by optimizing the allocation of production factors and adjusting industrial structure, stimulate market's vitality and balanced development.

中国改革已经进入攻坚期和深水区，（我们将以壮士断腕的勇气、凤凰涅槃的决心，敢于向积存多年的顽瘴痼疾开刀，敢于触及深层次利益关系和矛盾，把改革进行到底）。我们将继续推进供给侧结构性改革，解决好当前经济发展中的主要矛盾，通过优化要素配置和调整产业结构提高供给体系质量和效率，激发市场活力，促进协调发展。

China will adhere to the system and mechanism of innovation, breaks the existing pattern of interests, promote the rule of law in an all-around way, allow market play a decisive role in the resources allocation and let government better play its role.

我们将继续创新体制机制、突破利益固化藩篱，全面推进依法治国，更好发挥市场在资源配置中的决定性作用，更好发挥政府作用。

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