We always strove to maintain a balance between ensuring steady and rapid economic development, adjusting the economic structure, and managing inflation expectations. We made government macro policies more forward-looking, scientific and effective and implemented them with proper orientation, force and focus.
在國際金融危機沖擊最嚴(yán)重時，果斷實施積極的財政政策和適度寬松的貨幣政策，綜合運用多種財政政策工具，增加政府支出，實行結(jié)構(gòu)性減稅;有效運用存款準(zhǔn)備金率、利率等貨幣政策工具，保持貨幣信貸合理增長。
When the impact of the global financial crisis was at its worst, we resolutely implemented a proactive fiscal policy and a moderately easy monetary policy, employed a full range of financial policy tools, increased government spending and made structural tax reductions. We effectively employed monetary policy instruments such as adjusting required reserve ratios and interest rates to maintain proper growth in the money and credit supply.
根據(jù)宏觀經(jīng)濟走勢的變化，我們及時調(diào)整政策力度，適時退出刺激政策，實施積極的財政政策和穩(wěn)健的貨幣政策。
In response to changing macroeconomic trends, we promptly adjusted the intensity of policy implementation, reduced the force of stimulus policies at an appropriate time, and implemented a proactive fiscal policy and a prudent monetary policy.
在財政政策運用上，堅持統(tǒng)籌兼顧，注重綜合平衡。
We took a holistic and balanced approach in employing fiscal policy.
財政赤字占國內(nèi)生產(chǎn)總值的比重從2009年的2.8%降到去年的1.5%左右，赤字率和債務(wù)負擔(dān)率保持在安全水平。加強地方政府性債務(wù)全面審計和地方政府融資平臺管理，有效控制經(jīng)濟運行中的風(fēng)險隱患。
As a result, the government deficit dropped from 2.8% of GDP in 2009 to about 1.5% last year, and both deficit-to-GDP and debt-to-GDP ratios remained at a safe level. We strengthened comprehensive auditing of local governments’ debt and management of their financing platforms, thus effectively controlling latent economic risks.
在貨幣政策運用上，始終注意把握穩(wěn)增長、控物價和防風(fēng)險之間的平衡。
In employing monetary policy, we maintained a balance between ensuring steady growth, maintaining price stability and warding off risks.
金融體系運行穩(wěn)健，銀行業(yè)風(fēng)險抵御能力持續(xù)增強，資本充足率從2007年底的8.4%提升到去年底的13.3%，不良貸款率由6.1%下降到0.95%，一直保持在較低水平。
The financial system functioned soundly. The banking sector became better able to avert risks. Its capital adequacy rate increased from 8.4% at the end of 2007 to 13.3% by the end of last year, and its non-performing loans were kept at a low level, dropping from 6.1% to 0.95%.
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