Mme Chairperson,

The Chinese Delegation associates itself with the statement made by the distinguished delegate of Sudan on behalf of G77 and China.

The economy of China, as a part of the global economy, has also been affected by the international financial crisis and is now facing the most daunting challenge in recent years. Manifestations of this challenge include rising unemployment rate in towns and cities, difficulties some enterprises encounter in production and business operation and mounting pressure for a slowdown in economic growth. The Chinese Government has taken active measures in responding to the global financial crisis.

Firstly, we promptly formulated ten initiatives to expand internal demand. The investment will mainly go to government-subsidized housing projects, projects concerning the well-being of rural residents, environmental protection projects and rehabilitation and reconstruction in the region struck by the devastating earthquake in Sichuan last year.

Secondly, we have put in place more proactive employment policies. In accordance with the Employment Promotion Law, the government implements policies to support job generating industries to hire more people, help small and medium enterprises overcome their difficulties in business operation, and encourage enterprises to reduce layoff and keep the number of their employees stable. Free vocational training is provided to the unemployed so that they can find jobs as soon as possible. With regard to vulnerable groups, the government has adopted special policies to create jobs in the field of public welfare in order to meet their employment needs.

Thirdly, we have drastically raised the level of social security. The government has accelerated the pace to improve our social security system and raised the levels of basic pension for retirees, unemployment insurance and industrial injury insurance, the minimum life guarantee for urban and rural residents and life subsidies for various vulnerable groups. We will ensure that this year, the scale of increase of financial input in social security and employment will far exceed that of our financial revenues.

Fourthly, we will reform our health care system. Within the time span of three years, the government will invest 850 billion RMB yuan to set up a basic health care system covering the whole country, so as to realize on a preliminary basis the goal of basic medical and health care service for all.

Mme Chairperson,

In the Chinese language, the word "crisis" carries two layers of meaning, one is danger and the other is opportunity. The Chinese government will seize the opportunity to push in an all round way for structural adjustment and upgrading of our industries, promote scientific and technological innovation, and develop advanced productive force. In the meantime, we will continuously increase input in the social area to drive forward social development and progress. We believe that if we in China manage to keep a relatively fast economic growth rate over a long period of time and maintain social stability and harmony, it'll be our greatest contribution to the economic and social development of the world.

Thank you, Mme Chairperson.