A seventh note, individual income has rapidly increased.

In the first quarter, the per capita cash income of the rural population reached 3,224 yuan, a nominal increase of 12.3 percent year-on-year (a real growth of 10.1 percent after deducting price factors); the per capita disposable income of the urban population reached 8,155 yuan, a nominal increase of 9.8 percent year-on-year (a real growth of 7.2 percent after deducting price factors). According to the urban and rural integration household survey initiated from the fourth quarter of 2012 onwards, the national per capita disposable income in the first quarter of 2014 reached 5,562 yuan, a nominal increase of 11.1 percent year-on-year (a real growth of 8.6 percent after deducting price factors). The median of national per capita disposable income reached 4,694 yuan, a nominal increase of 14.0 percent year-on-year. Till the end of the first quarter, the total number of the rural migrant labor force reached 169.33 million, a year-on-year increase of 1.7 percent, 2.88 million. The average monthly income of migrant workers reached 2,681 yuan, an increase of 10.1 percent.

Eighth, positive progress in economy restructuring.

The industrial structure was optimized. In the first quarter, the added value of the tertiary industry made up 49.0 percent of China's gross domestic product (GDP), up 1.1 percentage points, 4.1 percentage points higher than the second industry. The contribution of domestic demand to economic growth now continues to improve. In the first quarter, final consumption expenditure accounted for 64.9 percent of the GDP, up 1.1 percentage points over the same period last year. The income gap between urban and rural residents was brought much closer together. In the first quarter, the nominal per capita cash income of the rural population grew 2.9 percentage points faster than the per capita disposable income of the urban population; the income of urban residents was 2.53 times that of rural residents, down 0.06 year-on-year. Energy efficiency continued to improve. In the first quarter, energy consumption per 10,000 yuan of GDP fell 4.3 percent year-on-year.

On a ninth note, the supply of money and credit increased steadily.

By late March, the balance of broad money (M2) totaled at 116.07 trillion yuan, up 12.1 percent year-on-year; and the balance of narrow money (M1) totaled around 32.77 trillion yuan, up 5.4 percent year-on-year; the balance of money in circulation (M0) totaled at 5.83 trillion yuan, up 5.2 percent year-on-year. By late March, the balance of RMB loans was 74.91 trillion yuan and the balance of RMB deposits 109.10 trillion yuan. In the first quarter, the new yuan-denominated loans increased with 259.2 billion yuan, to 3.01 trillion yuan year-on-year and the new yuan-denominated deposits fell 1.39 trillion yuan, down to 4.72 trillion yuan year-on-year. The total amount of social financing reached 5.60 trillion yuan, a drop of 561.2 billion yuan year-on-year.

In general, China's economic growth moved within a reasonable range in the first quarter. Further progress has been made in structural adjustment and upgrading. But we must see that the external environment remains complex; there's a downward pressure on China's economy. In the next stage, we must carefully implement the decisions and deployment of the CPC Central Committee and the State Council, promote reform and maintain steady growth, keep firmly in line with policies to advance reform, adjust the structures and benefit the people. Deepening reform, structural adjustment and improving the people's livelihood will all become great sources of motivation for a sustainable and healthy development of China's economy and society.

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