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which China currently finds itself, and during which we must build up powerful new drivers in order to accelerate the development of the new economy. We need to move faster to develop new technologies, industries, and forms of business, boost the development of a sharing economy through institutional innovations, create sharing platforms, and develop emerging industry clusters such as high-tech and modern service industry clusters, thus creating strong new engines. We will use network-based information technology and other modern technologies to drive changes in models of production, management, and marketing, create new industry chains, supply chains, and value chains, and transform and upgrade conventional drivers, thus injecting them with new vitality.

Ultimately, it is the people who are the inexhaustible source of power that drives development. A workforce of over 900 million, of whom over 100 million have received higher education or are professionally trained: this is our greatest resource and strength. Obviously, replacing old drivers of growth with new ones and achieving a shift in development toward greater reliance on human resources, human capital, and innovations in science and technology is a process of painful adjustment. But it is at the same time an upgrading process with great promise. We just have to get through this process, and we can, without question, reinvigorate the economy and ensure its dynamic growth.

Looking ahead to the next five years, we are fully confident that we will finish building a moderately prosperous society in all respects within the set timeframe, that our people will enjoy better lives, and that there will be an even brighter future for the cause of building socialism with Chinese characteristics.

I now want to discuss the major areas of work for 2016.

This is the fust year of the decisive stage in finishing building a moderately prosperous society in all respects and a crucial year in carrying out structural reform. To ensure that the government's goal for this year is accomplished, we must do the following:

  • hold high the great banner of socialism with Chinese characteristics;
  • implement the guiding principles of the 18th National Congress of the CPC and the third, fourth, and fifth plenary sessions of the 18th CPC Central Committee;
  • follow the guidance of Deng Xiaoping Theory, the Theory of Three Represents, and the Scientific Outlook on Development;
  • put into practice the guiding principles from General Secretary Xi Jinping's major policy addresses;
  • work in accordance with the overall plan for promoting all-round economic, political, cultural, social, and ecological progress and the

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