Phoenix TV:

Mr. Sheng, Premier Li Keqiang hosted a symposium yesterday, during which he said that there is significant downward pressure on the Chinese economy and the government will step up efforts on targeted macroeconomic regulation. I wonder what your view is on the new characteristics of macro adjustment in the future and what are the specific areas for targeted regulation?

Sheng Laiyun:

You must have a fairly clear picture already, after reading the news yesterday. The specific areas of adjustment and further improvement on the macro policies fall within the power of the related departments, not mine. But I can tell you that the direction of China's macroeconomic policies has been clearly set. The Central Economic Working Conference and the government work report have stated that we will adhere to a general tone of "moving forward while maintaining stability," and continue to implement a proactive fiscal policy and a prudent monetary policy -- the fiscal policy will be more proactive and the monetary policy will be neither too tight not too loose. We will also further carry out reform and opening up, improve our methods of macro adjustment, and intensify our efforts for targeted macroeconomic regulation on the basis of regulations that keep the economy within a proper range. The major direction and goals are clear, and the policy orientation is clear as well.

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