is primarily to ensure employment and promote the people's wellbeing, and a growth rate of between 6.5% and 7% will allow for relatively full employment.
A comprehensive analysis of all factors shows that China will face more and tougher problems and challenges in its development this year, so we must be fully prepared to fight a difficult battle.
Internationally, the global economy is experiencing profound changes and struggling to recover; growth in trade is weak; there are fluctuations in the financial and commodity markets; geopolitical risks are rising; and there are increasing instabilities and uncertainties in China's external environment. We should not underestimate the impact all of this will have on China's development.
Domestically, problems and risks that have been building up over the years are becoming more evident; the change of pace in economic growth, the difficulties associated with structural adjustments, and the transformation of the drivers of growth present interwoven problems; and downward pressure on the economy 1s growing.
But we will not be daunted by these problems and challenges. China has from the start been developing while responding to challenges; there is no difficulty we cannot get beyond. Thanks to years of rapid development, China has laid a solid material foundation, and its economy is hugely resilient and has enormous potential and ample room for growth. At the same time, reform and opening up has been injecting new impetus into economic growth, and a wealth of experience has been gained in developing new ways of conducting macro regulation. In addition, we have the guidance of the CPC and the system of socialism with Chinese characteristics, and our people are talented and hardworking. As long as we work together as one to surmount all difficulties, we will definitely achieve the targets for economic and social development in 2016.
This year, we will carry out the following eight tasks:
1. Improve and keep stable our macroeconomic policies to ensure that the economy performs within an appropriate range
At present, we still have new instruments for macro regulation and a good reserve of policies at our disposal. On the one hand, we will focus on current realities and take targeted steps to withstand the downward pressure on the economy. On the other hand, we must have our long-term development goals in mind, keep some policy tools as options for later use, strategize our moves, and gather strength. We will continue to implement proactive fiscal policy and prudent monetary policy, develop new approaches to macro regulation, strengthen range-based, targeted, and well-timed regulation, use fiscal and monetary policies and industry, investment, and pricing policy tools in a coordinated way, and implement structural reform, particularly supply-side structural reform, so as to
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