Nikkei: What are the contribution rates of final consumption, capital formation and net exports to economic growth? Thank you.

Sheng Laiyun: Due to the tight schedule, the GDP calculated through the expenditure approach and the contribution rates of the three major aspects of demand that you are interested in have not been worked out yet. But the general picture is clear. A decline in exports means that exports might have contributed less to economic growth this year than the same period last year. Domestic demand remained the principal contributor to China's economic growth, and its influence is still increasing. Now let's look at investment and demand. There was a slowdown in investment growth, and although the total retail sales of consumer goods apparently slowed down, its growth rate increased when adjusted for inflation. This indicates that the contribution of the consumption to economic growth has increased, and it tells us that China's demand structure has improved. Thank you.

Hong Kong Home and Abroad News Press: Premier Li Keqiang said in his keynote speech at the opening ceremony of the 2014 Boao Forum that China will not take short-term stimulus policies to address temporary economic fluctuations. Under these circumstances, how should China focus on medium and long term development and maintain a sustainable driving force in its development? Thank you.

Sheng Laiyun: Thank you for your questions. I think Premier Li's speech during the Boao Forum addressed your concern. In my mind, first he said that China's economy should focus on future development driving force, and medium to long term development, which means China still maintains its potential and capability to achieve a medium to high growth rate in the long term. China is now in the process of speeding up industrialization and urbanization and further advancing reform and opening up. There is still room for development and we have rich experience in macro control and policy support. So China's economy does not lack any momentum in maintaining a medium to high growth rate, and we have the confidence, capability, and conditions to realize long-term sustainable development.

Second, China's economy has had a stable start to this year, and is in good condition overall. But the foundations of sound and promising growth should be further cemented. Thus we should keep up our current momentum and also make active efforts. We should draw driving force from reform, structural adjustment, and the improvement of the people's well-being. Hence, I think the policy orientation is quite clear. Thank you.

Hu Kaihong: Today's conference ends here. Thank you.

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