Kyodo News:

Currently, the real estate industry and the international economic situation are complex. What do you predict regarding the economic situation in the fourth quarter of this year? Will the growth rate reach the expected target of 5%? Thank you.

Sheng Laiyun:

Thank you for your question. People are concerned about the economic trends in the fourth quarter of this year and whether the whole-year target and tasks could be accomplished. In the first three quarters of this year, the GDP grew by 5.2% year on year, laying a solid foundation for the completion of the whole-year expected target – 5%. According to our estimations, if the growth rate in the fourth quarter of this year can reach 4.4% or above, we will achieve the whole-year expected target of around 5%. From this perspective, we are very confident that we can accomplish the whole-year expected target.

First, as for the economic trends in the fourth quarter of the year, economic operations will maintain an encouraging rebound momentum. Figures in the first three quarters of this year show that production and demand, as well as expectation and operation of the real economy are all recovering. While economic operations show inertia, we believe that the trend of steady growth will continue in the fourth quarter.

Secondly, previously released policies and measures to ensure stable growth will continue to take effect. With their step-by-step implementation, more positive effects will be unleashed.

On the basis of the above-mentioned judgment, we conclude that the economy in the fourth quarter will continue to recover and maintain a general trend of rebounding. We are very confident that we will meet the expected target of 5%. Thank you.