The year 2018 was the first year for putting the guiding principles of the 19th National Congress of the Communist Party of China fully into effect.

是本届政府依法履职第一年。

It was also this government’s first to perform, in accordance with law, the functions of office.

我国发展面临多年少有的国内外复杂严峻形势，经济出现新的下行压力。

In pursuing development this year, China faced a complicated and challenging domestic and international environment of a kind rarely seen in many years, and its economy came under new downward pressure.

在以习近平同志为核心的党中央坚强领导下，全国各族人民以习近平新时代中国特色社会主义思想为指导，砥砺奋进，攻坚克难。

Under the firm leadership of the Party Central Committee with Comrade Xi Jinping at its core, we, the Chinese people of all ethnic groups, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, forged ahead and overcame difficulties.

决胜全面建成小康社会又取得新的重大进展。

In building a moderately prosperous society in all respects, we made major progress toward a decisive victory.

经济运行保持在合理区间。

The main economic indicators were kept within an appropriate range.

经济增速与用电、货运等实物量指标相匹配。

Economic growth matched electricity consumption, freight transport, and other indicators.

国际收支基本平衡。

In the balance of payments a basic equilibrium was maintained.

近14亿人口的发展中大国，实现了比较充分就业。

As a big developing country with a population close to 1.4 billion, we have attained relatively full employment.

经济结构不断优化。

Economic structure was further improved.

高技术产业、装备制造业增速明显快于一般工业。

Growth in high-tech industries and equipment manufacturing outstripped that of other industries.

质量和效益继续提升。

The quality and returns of growth continued to improve.

新兴产业蓬勃发展，传统产业加快转型升级。大众创业万众创新深入推进。

Emerging industries thrived and traditional industries saw faster transformation and upgrading. Business startups and innovation continued to surge nationwide.

市场主体总量超过1亿户。

The total number of market entities passing the 100 million mark

新动能正在深刻改变生产生活方式、塑造中国发展新优势。

New growth drivers are now profoundly changing our mode of production and way of life, creating new strengths for China’s development.

市场准入负面清单制度全面实行。

The negative list system for market access was put fully into effect.

对外开放全方位扩大。

Opening up was expanded on all fronts.

三大攻坚战开局良好。

The three critical battles [i.e. the battles against potential risks, poverty, and pollution] got off to a good start.

防范化解重大风险，宏观杠杆率趋于稳定，金融运行总体平稳。

We forestalled and defused major risks. The macro leverage ratio trended toward a stable level; the financial sector was generally stable.

易地扶贫搬迁280万人。

2.8 million people assisted through relocation from inhospitable areas

生态文明建设成效显著。

Marked achievements were made in ecological conservation.

提高个人所得税起征点，设立6项专项附加扣除。

The threshold for individual income tax was raised and six special additional deductions were created.

资助各类学校家庭困难学生近1亿人次。

Close to 100 million payments were made to assist students from families in financial difficulty, covering all school types.

棚户区住房改造620多万套，农村危房改造190万户。

More than 6.2 million housing units were rebuilt in rundown urban areas and 1.9 million dilapidated rural houses were renovated.

我们隆重庆祝改革开放40周年，深刻总结改革开放的伟大成就和宝贵经验，郑重宣示在新时代将改革开放进行到底的坚定决心，激励全国各族人民接续奋斗，再创新的历史伟业。

We solemnly commemorated the 40th anniversary of reform and opening up, thoroughly reviewed its great achievements and the valuable experience gained in its pursuit, and pledged our resolve to see reform and opening up through in the new era, thus galvanizing the Chinese people of all ethnic groups to continue their hard work to make new historic achievements.

回顾过去一年，成绩来之不易。

Looking back at the past year, we can see that our achievements did not come easily.

经济全球化遭遇波折，多边主义受到冲击，国际金融市场震荡，特别是中美经贸摩擦给一些企业生产经营、市场预期带来不利影响。

Setbacks in economic globalization, challenges to multilateralism, shocks in the international financial market, and especially the China-US economic and trade frictions, had an adverse effect on the production and business operations of some companies and on market expectations.

我们面对的是经济转型阵痛凸显的严峻挑战。

What we faced were severe challenges caused by the growing pains of economic transformation.

新老矛盾交织，周期性、结构性问题叠加，经济运行稳中有变、变中有忧。

An interlacing of old and new issues and a combination of cyclical and structural problems brought changes in what was a generally stable economic performance, some of which caused concern.

我们面对的是两难多难问题增多的复杂局面。

What we faced was a complicated terrain of increasing dilemmas.

实现稳增长、防风险等多重目标，完成经济社会发展等多项任务，处理好当前与长远等多种 关系，政策抉择和工作推进的难度明显加大。

We had multiple targets to attain, like ensuring stable growth and preventing risks; multiple tasks to complete, like promoting economic and social development; and multiple relationships to handle, like that between short-term and long-term interests. And the difficulty of making policy choices and moving work forward increased markedly.

我国经济发展在高基数上总体平稳、稳中有进。

The Chinese economy, from a larger base, achieved generally stable growth while making further progress.

中国的发展没有过不去的坎。

There is no difficulty that cannot be overcome in China’s pursuit of development.

坚持稳中求进工作总基调。

We followed the general principle of pursuing progress while ensuring stability.

稳妥应对中美经贸摩擦。

We handled economic and trade frictions with the United States appropriately.

创新和完善宏观调控，经济保持平稳运行。

We developed new ways to improve macro regulation and ensured a generally stable economic performance.

我们坚持不搞“大水漫灌”式强刺激。

We were firm in choosing not to adopt a deluge of strong stimulus policies.

保持宏观政策连续性、稳定性。

We maintained the continuity and consistency of macro policies.