5. Investment in fixed assets continued to scale up and investment in high-tech industries sustained fast growth.

In the first three quarters, the investment in fixed assets (excluding rural households) reached 37,503.5 billion yuan, up by 3.1% year on year, or 6.0% year on year after deducting price factors. Specifically, the investment in infrastructure was up by 6.2% year on year; that in manufacturing up by 6.2%, and that in real estate development down by 9.1%. The floor space of commercial buildings sold was 848.06 million square meters, down by 7.5% year on year; the total sales of commercial buildings were 8,907.0 billion yuan, down by 4.6%. By industry, the investment in the primary industry went down by 1.0% year on year, that in the secondary industry up by 9.0%, and that in the tertiary industry up by 0.7%. The private investment was down by 0.6%, or up by 9.1% year on year after deducting the investment in real estate development. The investment in high-tech industries grew by 11.4% year on year. Specifically, the investment in high-tech manufacturing and high-tech services grew by 11.3% and 11.8%, respectively. In terms of high-tech manufacturing, the investment in manufacturing of aerospace vehicle and equipment and in manufacturing of medical equipment, measuring instruments and meters grew by 20.7% and 17.0%, respectively. In terms of high-tech services, the investment in services for transformation of scientific and technological achievements and in professional technical services went up by 38.8% and 29.6%, respectively. In September, the investment in fixed assets (excluding rural households) went up by 0.15% month on month.

6. Imports and exports of goods was generally stable and trade structure continued to optimize.

In the first three quarters, the total value of imports and exports of goods was 30,802.1 billion yuan, down by 0.2% year on year. Specifically, the total value of exports was 17,602.5 billion yuan, up by 0.6%; the total value of imports was 13,199.6 billion yuan, down by 1.2%. The trade balance was 4,402.9 billion yuan in surplus. The imports and exports by private enterprises grew by 6.1%, accounting for 53.1% of the total value of imports and exports. The imports and exports with the Belt and Road partner countries grew by 3.1%, accounting for 46.5% of the total value of imports and exports. The exports of mechanical and electrical products grew by 3.3%, accounting for 58.3% of the total value of exports, 1.5 percentage points higher than that of the same period last year. In September, the total value of imports and exports was 3,742.5 billion yuan, a decline of 0.7% year on year, with the month-on-month growth increasing for two months on end. Among that, the total value of exports was 2,150.6 billion yuan, down by 0.6% year on year; the total value of imports was 1,591.9 billion yuan, down by 0.8%.

7. Consumer price increased mildly and decline of producer prices for industrial products continued to narrow.

In the first three quarters, the consumer price index (CPI) grew by 0.4% year on year. Grouped by commodity categories, prices for food, tobacco and alcohol went up by 1.1%; clothing up by 0.9%; housing down by 0.1%; articles and services for daily use up by 0.2%; transportation and communication down by 2.4%; education, culture and recreation up by 1.9%; medical services and health care up by 1.1%; and other articles and services up by 3.2%. In terms of food, tobacco and alcohol prices, prices for pork went down by 6.8%, fresh vegetables down by 3.1%, grain went up by 1.2%, and fresh fruits up by 6.0%. The core CPI excluding the prices of food and energy grew by 0.7% year on year. In September, the CPI maintained the same level year on year, or up by 0.2% month on month.

In the first three quarters, the producer prices for industrial products went down by 3.1% year on year. Specifically, the prices in September went down by 2.5% year on year, with the decline narrowed by 0.5 percentage points compared with that of the previous month, or up by 0.4% month on month. In the first three quarters, the purchasing prices for industrial producers went down by 3.6% year on year. Specifically, the prices in September went down by 3.6% year on year, with the decline narrowed by 1.0 percentage point compared with that of the previous month, or up by 0.6% month on month.

8. Employment was generally stable and surveyed urban unemployment rate declined.

In the first three quarters, the surveyed urban unemployment rate averaged 5.3%. In September, the surveyed urban unemployment rate was 5.0%, 0.2 percentage points lower than the previous month, falling for two months in a row. The surveyed unemployment rate of population with local household registration was 5.1%; that of population with non-local household registration was 4.9%, among which, the rate of the population with non-local agricultural household registration was 4.7%. The surveyed urban unemployment rate in 31 major cities was 5.2%, 0.1 percentage points lower than the previous month. The employees of enterprises worked 48.8 hours per week on average. By the end of the third quarter, the number of rural migrant workers totaled 187.74 million, up by 2.8% year on year.

9. Residents income increased steadily and income of rural residents grew faster than that of urban residents.

In the first three quarters, the nationwide per capita disposable income of residents was 29,398 yuan, a nominal growth of 6.3% year on year; the real growth was 5.9% after deducting price factors, 0.1 percentage points faster than that of the first half year. In terms of permanent residence, the per capita disposable income of urban households was 39,428 yuan, a nominal growth of 5.2% year on year and a real growth of 4.7%; the per capita disposable income of rural households was 15,705 yuan, a nominal growth of 7.6% year on year and a real growth of 7.3%. In terms of income source, the nationwide per capita salary income, net business income, net property income and net income from transfers grew by 6.8%, 6.7%, 3.7% and 5.8% in nominal terms, respectively. The median of the nationwide per capita disposable income of residents was 24,528 yuan with the nominal growth of 5.4% year on year.

Generally speaking, in the first three quarters, the national economy sustained the momentum of recovery and improvement with solid progress in high-quality development, which has laid a strong foundation for achieving the annual development targets. However, we should be aware that the external environment is becoming increasingly complex and grave while the domestic demand remains insufficient and the foundation for economic recovery and growth needs to be further consolidated. At the next stage, we must follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, adhere to the general principle of pursuing progress while ensuring stability, and fully implement the new development philosophy. We need to focus on the top priority of high-quality development and the strategic task of fostering a new development pattern by expanding effective domestic demand, stimulating the vitality of market players and implementing and delivering the introduced policies more effectively to continuously enhance the economic performance, boost the endogenous driving force, improve the public expectations, and defuse risks and hidden dangers, so as to achieve the annual targets of economic and social development.

The data provided above represent the main indicators of China's economic performance in the first three quarters of this year. I'm now ready to take your questions.

Shou Xiaoli:

Thank you, Mr. Sheng. Now the floor is open for questions. Please identify the media outlet you represent before asking questions.