习近平主席在党的十八届五中全会第二次全体会议上的讲话（节选）

下大气力破解制约如期全面建成小康社会的重点难点问题

Making a vigorous effort to address major and difficult problems preventing us from achieving moderate prosperity on schedule

实现全会确定的目标任务，必须下气力解决好重点难点问题。这既是我们必须完成的任务，也是必须迈过的一道坎儿，正所谓“操其要于上，而分其详于下”。

To attain the targets established at this plenary session, we must engage in a vigorous effort to address major and difficult problems. These are not only tasks we must complete, but barriers we must overcome. As the old saying goes, “Once the principles have been decided at the top, they must be implemented lower down.”

第一，转方式，着力解决好发展质量和效益问题。发展是基础，经济不发展，一切都无从谈起。改革开放以来，我们靠聚精会神搞建设、一心一意谋发展，取得了骄人的成就。实现全面建成小康社会奋斗目标，仍然要把发展作为第一要务，努力使发展达到一个新水平。发展是硬道理的战略思想要坚定不移坚持，同时必须坚持科学发展，加大结构性改革力度，坚持以提高发展质量和效益为中心，实现更高质量、更有效率、更加公平、更可持续的发展。

First, we need to transform our growth model to raise the quality and efficacy of development.

Development is a foundation. Without economic development, nothing can be achieved. Since launching the reform and opening up drive more than 30 years ago, we have made remarkable achievements by focusing wholeheartedly on building the economy and pursuing development. To attain our goal of building a moderately prosperous society in all respects, we must continue to make development the number one priority and strive to take development to a new level. The notion that development is the absolute principle must be firmly upheld, but we also need to uphold the principle of development in a scientific way. We must step up the intensity of structural reforms and focus on raising the quality and efficacy of development, in order to achieve higher-quality development that is more efficient, equitable, and sustainable. 

当前，我国经济下行压力很大，这其中有全球性、阶段性因素的影响，但根本上是结构性问题。比如，当前经济下行的一个重要原因是工业增长下滑，而工业下滑主要是产业结构不适应需求变化、部分行业产能过剩严重。企业效益不好的主要原因也是如此。提高发展质量和效益，关键是要加快转变经济发展方式、调整经济结构，采取果断措施化解产能过剩，这是唯一正确的选择。“十三五”时期是转方式调结构的重要窗口期。如果不注重转方式调结构，只是为短期经济增长实行刺激政策，必然会继续透支未来增长。面对传统经济发展方式积累的矛盾和问题，如果一直迟疑和等待，不仅会丧失窗口期的宝贵机遇，而且还会耗尽改革开放以来积累下来的宝贵资源。这是不少国家的教训。机遇不会等着我们，问题也不会等待我们。

China’s economy is currently coming under considerable downward pressure. Despite being partly attributable to global and transitory factors, this is essentially a structural problem. For instance, a major cause of the slowdown at present is sliding industrial growth, primarily due to the mismatch between the structure of industry and demand, as well as serious over-manufacturing capacity in certain industries. This is also the main reason for the poor performance of enterprises. The key to raising the quality and efficacy of development is therefore to accelerate the transformation of the growth model and the restructuring of the economy, and resolutely eliminate excess production capacity. This is our only choice. The period of the 13th Five-Year Plan represents an important window of opportunity for transforming the growth model and restructuring the economy. If we fail to attach sufficient emphasis to this transformation and adjustment, and merely launch stimulus policies for the sake of short-term growth, we will only further eat away at our future growth prospects. If we hesitate to confront the problems that have built up under our traditional mode of economic growth, not only will we squander a precious window of opportunity, but we will also deplete the valuable resources we have accumulated since the launch of reform and opening up. This is a lesson that many countries have learned the hard way. Opportunities will not wait for us, nor will problems simply wait to be solved.  

发展要有一定速度，但这个速度必须有质量、有效益。经济下行压力加大，表面上是有效需求不足，实际上是有效供给不足。总体上我国产能很大，但其中一部分是无效供给，而高质量、高水平的有效供给又不足。我国是制造大国和出口大国，但主要是低端产品和技术，科技含量高、质量高、附加值高的产品并不多。我们既要着力扩大需求，也要注重提高供给质量和水平。

Admittedly, a certain rate of growth has to be maintained, but that development must be high in quality and efficacy. On the surface the downward pressure on the economy appears to be the result of insufficient effective demand, but in reality it is the result of insufficient effective supply. China has a large production capacity on the whole, but part of this supply is ineffective. In contrast there is a shortage of high-quality, high-standard supply. Although China is a major manufacturer and exporter, much of what we produce is low-end, and we do not make enough technologically-advanced products that are of high quality and value-added. Therefore, in addition to increasing demand, we also need to lay emphasis on raising the quality and standard of supply.  

过去，我国生产能力滞后，因而把工作重点放在扩大投资、提高生产能力上。现在，产能总体过剩，仍一味靠扩大规模投资抬高速度，作用有限且边际效用递减。虽然短期内投资可以成为拉动经济增长的重要动力，但最终消费才是经济增长的持久动力。在扩大有效投资、发挥投资关键作用的同时，必须更加有效地发挥消费对增长的基础作用。“一带一路”建设、京津冀协同发展、长江经济带建设三大战略，是今后一个时期要重点拓展的发展新空间，要有力有序推进。在前30多年的发展中，我国逐步形成了京津冀、长三角、珠三角三大城市群，成为带动全国发展的主要空间载体。东北地区、中原地区、长江中游、成渝地区等各有1亿多人口，完全有条件形成相对完整的产业体系和大市场，成为带动发展的新空间。当然，要做好空间规划顶层设计，有序推进，避免盲目性。

In the past, when China’s productive forces lagged behind, our priority was to increase investment and raise our capacity to produce. But now we have excess manufacturing capacity on the whole, so simply adding investment will do little to increase the pace of economic growth, and the marginal effects of investment will progressively diminish. While investment can be an important driver of economic growth in the short term, it is ultimately consumption that provides lasting impetus for growth. Therefore, as we continue to increase effective investment and make use of the critical role that investment plays, we must make more effective use of consumer demand as a primary driver of growth. The Belt and Road Initiative, Beijing-Tianjin-Hebei integration initiative, and Yangtze Economic Belt initiative represent major new avenues for development that should be explored in an energetic yet orderly fashion. Over the past three decades or more, city clusters have taken shape in the Beijing-Tianjin-Hebei, Yangtze River Delta, and Pearl River Delta regions, becoming major regional engines behind the development of the entire country. At the same time, northeast China, the Central Plains, the middle reaches of the Yangtze, and the Chengdu-Chongqing region are each home to more than 100 million people. These regions enjoy all the necessary conditions to form a complete framework of industries and large markets, and thus have the potential to become new regional drivers of development. Of course, this requires good spatial planning and top-level design. These initiatives should be advanced in an orderly fashion, and rash action must be avoided. 

关于转方式调结构的重点任务，《建议》提出了具体要求，关键是要实现有质量、有效益的发展。一是投资要有效益。扩大投资可以促进增长，但如果都是无效投资，投下去没有回报，贷的款、借的债就没法偿还，形成一堆坏账，对企业而言就是财务风险，对国家而言就是财政金融风险。虽然说基础设施特别是公共性较强的基础设施投资的回报期可以长一些，但我们也不能把几十年以后的事都干了，即使应该干的也要看财力是不是可以支撑。二是产品要有市场。这是投资是否有合理回报的前提。不分析市场前景，以政代企配置资源，或者以优惠政策诱使企业扩大投资，结果可能成为继续前进的包袱。三是企业要有利润。企业之所以叫企业，就是必须赢利。企业没有利润、大面积亏损，两三年后撑不下去了，那就不仅是速度低一点的问题了，员工收入和政府财政无从谈起，而且会带来金融风险甚至社会风险。我们的政策基点要放在企业特别是实体经济企业上，高度重视实体经济健康发展，增强实体经济赢利能力。四是员工要有收入。人们到企业就业是为了取得收入，收入低于预期、低于市场决定的平均工资，就招不来人。当然，工资增长快于宏观经济形势所决定的企业利润增长，也会导致企业招人贵、负担重，有些劳动密集型外资企业也会转移到工资成本更低的国家。五是政府要有税收。政府必须提供外部性强的公共服务、基础设施。政府做这些事的钱从哪里来？主要是税收。政府可以发债，但也不能发过了头。如果经济增长速度挺高，但政府没有税收，没有钱干政府要干的事，民生和公共服务无从改善，社会也难以和谐稳定。政府的钱不能乱花，所以要控制好支出。

According to requirements laid out in the Recommendations, the key to transforming the growth model and restructuring the economy lies in achieving development that is high in quality and highly effective.

First, investment needs to be effective. It is true that increasing investment can stimulate economic growth. However, if all this investment is ineffective and does not generate any returns, then investors will be unable to repay the loans and debt they have incurred and we will end up with a mountain of bad debt. For individual companies this spells financial risk, while for the country as a whole it implies fiscal and financial risk. Though the period of return on infrastructure can be prolonged somewhat, especially for infrastructure with a strong public orientation, we cannot attempt to build everything we will need over the coming decades right now. Even for projects we do need right now, we should see whether we have sufficient financial resources first.

Second, products need to have markets. This is a prerequisite that must be satisfied if investments are to yield reasonable returns. Without analyzing market prospects, we will only increase our burden if we let the government allocate resources instead of businesses, or if we entice businesses to increase their investment with preferential policies.

Third, businesses need to have profits. Companies exist to make profit, and that is why we call them companies. But should companies fail to make a profit, or even suffer major losses, being unable to carry on after a few years, the consequences will be worse than just slower economic growth. Not only will employee incomes and fiscal revenue be out of the question, we could even face the onset of financial or social risks. Therefore, the focus of our policies needs to be placed on companies, particularly companies operating in the real economy. We need to attach major significance to the healthy development of the real economy, and boost its ability to generate profits.

Fourth, employees need to have incomes. The reason people seek employment in companies is to acquire income. If salaries fall short of expectations or are lower than the average as decided by the market, then companies will struggle to find employees. Of course, where wages outgrow corporate profits as decided by macroeconomic conditions, it will become more costly for companies to hire employees and their financial burden will increase. In this case some labor-intensive foreign enterprises may choose to relocate to countries where wage costs are lower.

Fifth, the government needs tax revenue. The government has a duty to provide public services and infrastructure with significant externalities. But where does the government get the money it needs to do this? The main source of government revenue is taxation. While the government can also issue debt bonds to raise funds, it must avoid going over the top. Even in a rapidly growing economy, if the government has no tax revenue and no money to do its job, there will be no way for it to improve public wellbeing and services, and social stability will be hard to maintain. The government cannot spend money recklessly, and so expenditure must be controlled. 

转方式调结构是“十三五”时期的关键任务。要以结构深度调整、振兴实体经济为主线调整完善相关政策，构建产业新体系，培育一批战略性产业，构建现代农业产业体系，加快建设制造强国，加快发展现代服务业。转方式调结构的基础动力在创新，要推动新技术、新产业、新业态蓬勃发展，瞄准世界科技前沿，形成一批重大创新成果，推进科技成果产业化，使创新成果变成实实在在的经济活动，形成新的产品群、产业群。

Economic transformation and restructuring is the key task during the period of the 13th Five-Year Plan. With a focus on promoting deep structural adjustment and invigorating the real economy, we need to improve relevant policies, establish a new industrial framework, foster strategic industries, build the framework of a modern agricultural sector, accelerate China’s establishment as a leading manufacturing nation, and step up the development of modern service industries. The primary impetus for China’s economic transformation and restructuring must come from innovation. Taking aim at the cutting-edge, we need to promote the robust development of new technologies, industries, and forms of business; secure a series of major achievements in innovation; and facilitate the industrial application of scientific and technological advances, enabling them to evolve into tangible economic activities that give birth to new products and industries.

第二，补短板，着力解决好发展不平衡问题。全面建成小康社会，强调的不仅是“小康”，而且更重要的也是更难做到的是“全面”。“小康”讲的是发展水平，“全面”讲的是发展的平衡性、协调性、可持续性。如果到2020年我们在总量和速度上完成了目标，但发展不平衡、不协调、不可持续问题更加严重，短板更加突出，就算不上真正实现了目标，即使最后宣布实现了，也无法得到人民群众和国际社会认可。

Second, we need to shore up weak areas to address the problem of unbalanced development.

The moderately prosperous society in all respects we are seeking to build emphasizes not only “moderate prosperity,” but rather moderate prosperity in “all respects,” and it is the latter part that is more important and ultimately more difficult to achieve. “Moderate prosperity” refers to a standard of living, whereas “all respects” refers to balanced, coordinated, and sustainable development. If by the year 2020 the size of our economy and the pace of growth hit the target, but the problem of unbalanced, uncoordinated, and unsustainable development worsens and weaknesses become more pronounced, then we will not have genuinely attained our goal. Even if we were to declare success, we would have no credibility in the eyes of the Chinese people and the international community.

全面小康，覆盖的领域要全面，是五位一体全面进步。全面小康社会要求经济更加发展、民主更加健全、科教更加进步、文化更加繁荣、社会更加和谐、人民生活更加殷实。要在坚持以经济建设为中心的同时，全面推进经济建设、政治建设、文化建设、社会建设、生态文明建设，促进现代化建设各个环节、各个方面协调发展，不能长的很长、短的很短。

Moderate prosperity in all respects needs to cover all domains. It needs to involve comprehensive progress in five major domains: economic, political, cultural, social, and environmental. A moderately prosperous society in all respects requires a more developed economy, more refined democracy, more advanced science and education, more vibrant culture, and more harmonious social relations, as well as higher living standards for the people. While continuing to make economic development the central task, we also need to comprehensively advance progress in political, cultural, social, and ecological domains, so that all aspects of modernization can develop in a coordinated fashion and we can avoid a situation whereby major strengths and major weaknesses exist side by side. 

比如，生态文明建设就是突出短板。在30多年持续快速发展中，我国农产品、工业品、服务产品的生产能力迅速扩大，但提供优质生态产品的能力却在减弱，一些地方生态环境还在恶化。这就要求我们尽力补上生态文明建设这块短板，切实把生态文明的理念、原则、目标融入经济社会发展各方面，贯彻落实到各级各类规划和各项工作中。主体功能区是国土空间开发保护的基础制度，也是从源头上保护生态环境的根本举措，虽然提出了多年，但落实不力。我国960多万平方公里的国土，自然条件各不相同，定位错了，之后的一切都不可能正确。要加快完善基于主体功能区的政策和差异化绩效考核，推动各地区依据主体功能定位发展。要坚持保护优先、自然恢复为主，实施山水林田湖生态保护和修复工程，加大环境治理力度，改革环境治理基础制度，全面提升自然生态系统稳定性和生态服务功能，筑牢生态安全屏障。

For example, environmental protection and improvement represents a major area in which we are falling short. During more than 30 years of rapid economic development, our capacity to produce agricultural products, industrial products, and service-based products has grown rapidly. However, our capacity to supply high-quality ecological products remains weak, and in some places natural environments are still deteriorating. This calls for a major effort to make up for shortcomings in environmental protection and improvement. Solid steps are needed to ensure that the philosophy, principles, and goals of environmental protection are integrated into all aspects of economic and social development and manifested in various plans and initiatives at all levels. Functional zoning represents a fundamental system for the development and protection of our country’s land spaces, and a fundamental measure that aims to protect natural environments at the source. However, despite being introduced many years ago, this system has yet to be effectively implemented. China has a land area of more than 9.6 million square kilometers, across which natural conditions vary greatly. If we get the positioning of these areas wrong, everything that follows will also be wrong. We need to improve policies and differentiated performance appraisals that are based on functional zoning, and urge various regions of the country to develop in accordance with their designated functions. Prioritizing protection and emphasizing natural restoration, we need to launch ecological protection and restoration projects for mountains, rivers, forests, farmland, and lakes; raise the intensity of environmental management; and reform basic systems for the management of environments, so as to comprehensively raise the stability and service capacity of ecosystems and erect solid ecological security barriers.