面对历史罕见的冲击，我们在“六稳”工作基础上，明确提出“六保”任务，特别是保就业保民生保市场主体，以保促稳、稳中求进。立足国情实际，既及时果断又保持定力，坚持不搞“大水漫灌”，科学把握规模性政策的平衡点。注重用改革和创新办法，助企纾困和激发活力并举，帮助受冲击最直接且量大面广的中小微企业和个体工商户渡难关。实施阶段性大规模减税降费，与制度性安排相结合，全年为市场主体减负超过2.6万亿元，其中减免社保费1.7万亿元。创新宏观政策实施方式，对新增2万亿元中央财政资金建立直达机制，省级财政加大资金下沉力度，共同为市县基层落实惠企利民政策及时补充财力。支持银行定向增加贷款并降低利率水平，对中小微企业贷款延期还本付息，大型商业银行普惠小微企业贷款增长50%以上，金融系统向实体经济让利1.5万亿元。对大企业复工复产加强“点对点”服务。经过艰苦努力，我们率先实现复工复产，经济恢复好于预期，全年国内生产总值增长2.3%，宏观调控积累了新的经验，以合理代价取得较大成效。

Facing shocks of a severity rarely seen before, based on what we had done to ensure stability on six key fronts, we carried out the task of maintaining security in six key areas—particularly job security, basic living needs, and the operations of market entities. By maintaining security, we were able to deliver stability while also pursuing progress. Based on China’s realities, we refrained from adopting a deluge of strong stimulus policies but took swift, decisive and well-considered steps, thus maintaining a desired balance between various macro policies. Using approaches of reform and innovation, we eased the difficulties of our enterprises and energized them. And we helped micro, small, and medium enterprises (MSMEs) and self-employed individuals, which are large in number, extensive in scope and took the most direct hit from Covid-19, weather what was a very tough time. By making both time-limited large-scale tax and fee cuts and institutional arrangements, we reduced the burden on market entities by more than 2.6 trillion yuan for the year, including 1.7 trillion yuan in social insurance premium cuts and exemptions. We adopted new approaches in implementing macro policies. The central government established a mechanism to directly allocate two trillion yuan of new funding to prefecture- and county-level governments, while provincial-level governments also increased their funding allocations to governments at these levels. With these two steps, we provided prefecture- and county-level governments with additional and timely fiscal resources to assist local businesses and residents. Banks were given support to increase loans to businesses and lower interest rates in a targeted way. MSMEs were allowed to postpone principal and interest repayments on their loans, and inclusive finance lending by large commercial banks to micro and small businesses increased by more than 50 percent. The real economy thus received an infusion of 1.5 trillion yuan from financial institutions. Point-to-point transportation services were provided to large enterprises to help them resume operations. Thanks to all these arduous efforts, China was able to take the lead in reopening its economy. With gross domestic product (GDP) for the year growing by 2.3 percent, a better-than-expected recovery was achieved. We thus not only gained fresh experience in macro regulation, but also delivered the best possible outcome at an acceptable cost.

各地加大稳岗扩岗激励力度，企业和员工共同克服困难。多渠道做好重点群体就业工作，支持大众创业万众创新带动就业。新增市场主体恢复快速增长，创造了大量就业岗位。城镇新增就业1186万人，年末全国城镇调查失业率降到5.2%。作为最大发展中国家，在巨大冲击下能够保持就业大局稳定，尤为难能可贵。加强生活必需品保供稳价，居民消费价格上涨2.5%。线上办公、网络购物、无接触配送等广泛开展。大幅度扩大失业保险保障范围。对因疫情遇困群众及时给予救助，新纳入低保、特困供养近600万人，实施临时救助超过800万人次。抵御严重洪涝、台风等自然灾害，全力应急抢险救援，妥善安置受灾群众，保障了人民群众生命财产安全和基本生活。

Employment is pivotal to people’s wellbeing. Our efforts to keep market entities afloat are aimed at maintaining stable employment and meeting basic living needs. Local governments across the country provided more incentives to stabilize and expand employment, thus enabling businesses and their employees to work hand-in-hand to overcome their difficulties. Multiple channels were tapped to ensure employment for key groups, and startups and innovation were encouraged as a way to create jobs. The number of new market entities began growing rapidly again, leading to the creation of a large number of new jobs. A total of 11.86 million urban jobs were added, and the year-end surveyed urban unemployment rate dropped to 5.2 percent. It is truly remarkable that China, the largest developing country in the world, has kept overall employment stable in the face of such an enormous shock. The supply and price stability of daily necessities was ensured; the consumer price index (CPI) posted a 2.5 percent growth. Practices like working from home, online shopping, and contactless delivery were widely adopted. We expanded the coverage of unemployment insurance schemes, and extended timely assistance to those who were hit particularly hard by Covid-19. Close to six million additional people received subsistence allowances or extreme poverty aid, and more than eight million temporary assistance grants were disbursed. We fought against severe floods, typhoons, and other natural disasters and spared no effort to provide rescue and relief to disaster victims and make appropriate arrangements for them, thus protecting people’s lives and property and ensuring their basic living needs.

较大幅度增加财政扶贫资金投入。对工作难度大的贫困县和贫困村挂牌督战，精准落实各项帮扶措施。优先支持贫困劳动力稳岗就业，帮助返乡贫困劳动力再就业，努力稳住务工收入。加大产业扶贫力度，深入开展消费扶贫。加强易返贫致贫人口监测和帮扶。年初剩余的551万农村贫困人口全部脱贫、52个贫困县全部摘帽。继续打好蓝天、碧水、净土保卫战，完成污染防治攻坚战阶段性目标任务。长江、黄河、海岸带等重要生态系统保护和修复重大工程深入实施，生态建设得到加强。稳妥化解地方政府债务风险，及时处置一批重大金融风险隐患。

We increased funding for poverty alleviation by a considerable sum. Counties and villages facing difficulty in poverty eradication were placed under special supervision to see they fully implemented all assistance and support policies. We assisted on a priority basis poor workers in securing jobs and poor rural migrant workers who had returned home in finding new jobs, thus keeping rural residents’ incomes from nonagricultural work stable. We worked harder to reduce poverty through the development of local industries and promote consumer spending on products from poor areas. We strengthened monitoring for groups who are liable to return to, or fall into, poverty, and provided them with assistance. All remaining poor rural residents, totaling 5.51 million in early 2020, were lifted from poverty, as were all of China’s remaining 52 poor counties. We continued working to keep our skies blue, our waters clear, and our lands pollution-free, and accomplished the objectives for pollution prevention and control for the current stage. We carried out major projects for protecting and restoring key ecosystems in the Yangtze River and Yellow River basins and along coastlines, and stepped up our ecological conservation endeavors. We took prudent steps to defuse local government debt risks and acted swiftly to defuse a number of major financial risks and potential dangers.

完善要素市场化配置体制机制。加强产权保护。深入推进“放管服”改革，实施优化营商环境条例。出台国企改革三年行动方案。支持民营企业发展。完善资本市场基础制度。扎实推进农业农村、社会事业等领域改革。共建“一带一路”稳步推进。海南自由贸易港建设等重大举措陆续推出。成功举办第三届中国国际进口博览会、中国国际服务贸易交易会。推动区域全面经济伙伴关系协定签署。完成中欧投资协定谈判。维护产业链供应链稳定，对外贸易和利用外资保持增长。

We improved the systems and mechanisms for the market allocation of production factors and strengthened the protection of property rights. We furthered reforms to streamline administration and delegate power, improve regulation, and upgrade services; and the Regulations on Improving the Business Environment were implemented. We adopted a three-year action plan for SOE reform and supported the development of private businesses. The underlying systems of the capital market were improved. We made solid strides in reforms related to agriculture, rural development, and social programs. Steady progress was achieved in the joint pursuit of the Belt and Road Initiative (BRI). Major measures to develop the Hainan Free Trade Port and other major initiatives were launched. The third China International Import Expo and the China International Fair for Trade in Services were hosted successfully. China played an important role in the signing of the Regional Comprehensive Economic Partnership Agreement, and it concluded negotiations on an investment agreement with the European Union. China’s industrial chains and supply chains were kept stable. And its foreign trade and utilized foreign investment posted steady growth.

建设国际科技创新中心和综合性国家科学中心，成功组建首批国家实验室。“天问一号”、“嫦娥五号”、“奋斗者”号等突破性成果不断涌现。加强关键核心技术攻关。加大知识产权保护力度。支持科技成果转化应用，促进大中小企业融通创新，推广全面创新改革试验相关举措。推动产业数字化智能化改造，战略性新兴产业保持快速发展势头。

We developed China’s international centers for science and technology innovation and comprehensive national science centers, and set up the country’s first group of national laboratories. Last year saw a stream of scientific and technological breakthroughs, like the Tianwen-1 Mars mission, the Chang’e-5 lunar mission, and the Fendouzhe (Striver) deep-sea manned submersible. We intensified efforts to make major breakthroughs in core technologies in key fields. Intellectual property protection was strengthened. We supported the application of scientific and technological advances, encouraged collaborative innovation among small, medium, and large enterprises, and promoted pilot reforms on all-around innovation. More was done to upgrade the industrial sector with digital and smart technologies; and strategic emerging industries maintained rapid development.