表明要勇于面对。审计的结果如实对外公布，表明债务风险是总体可控的，而且政府的债务率还在国际公认的警戒线以下。很多债务还是投资性的，但我们不能忽视其中存在的风险，正在加强规范性措施。下一步，包括采取逐步纳入预算管理，开正门、堵偏门，规范融资平台等措施。

Li Keqiang: I’ve got your question very clear as you speak very good Chinese, but this is a press conference for both Chinese and foreign journalists, so we still need the translation. There is such a view that the Chinese economy is confronted with risks, and I have read such reports which are not optimistic about the Chinese economy. They bear resemblance to the past bearish talk about the Chinese economy. For example, there was this concern last year about China’s economic downturn. Yet in spite of the pressure, we achieved our goal set for economic growth. We pay very high attention to the financial and debt risks. Faced with increased downward pressure on the economy last year, we conducted a comprehensive audit on government debt. That shows that the Chinese government has faced up to this challenge. We have released to the public the audit result as it is. And it shows that the risks are on the whole under control. Moreover, our debt to GDP ratio is below the internationally recognized warning line, and most of the debt takes the form of investment. But the government will not overlook potential risks. We are going to intensify regulatory steps, put those debts under

budgetary management over time and enhance the oversight of financing vehicles. In a word, we are going to keep the front gate open and block side doors.

对于“影子银行”等金融风险，我们也正在加强监管，已经排出时间表，推进实施巴赛尔协议III规定的监管措施。我两会期间参加一个代表团的审议，有来自银行界的代表问我，是不是资本充足率的要求偏高了一些？我们还是发展中国家，但是我们只能这样做，我们不能把今天的垫脚石变成明天的绊脚石。至于你问我是不是愿意看到一些金融产品违约的情况，我怎么能够愿意看到呢？但是确实个别情况难以避免，我们必须加强监测，及时处置，确保不发生区域性、系统性金融风险。谢谢。

As for financial risks such as shadow banking, we have tightened regulatory

measures, set a timetable and started to apply the Basel III requirements. When I

participated in the panel discussion during the two Sessions, a deputy from the banking sector said to me: Isn’t the capital adequacy ratio in China a bit too high? After all, we are still a developing country. But this is a must for us, as we don’t want to let today’s stepping stone become tomorrow’s stumbling block. As for default of financial products, how could I want to see such thing happen? Yet I’m afraid certain individual cases of such defaults are hardly avoidable. What we should do is to step up monitoring, promptly handle relevant situation and ensure that there will be no regional and systemic financial risks.