these adjustments that i mentioned above are healthy but they will undoubtedly affect China' s competitiveness But what is the bottom line? In my opinion, as long as we can maintain a more or less balanced balance of payments account, this adjustment process can continue, which is healthy for China and will also contribute to the rebalancing of the world economy. As far as I can see, this process will keep going forward, and through channels such as prices it will adjust the economy and achieve what we have been pursuing for years, that is, a relatively balanced balance of payments account. China has become a major importing country. Right now, the annual import volume of China is about US$2 trillion. If this trend is to continue, a modest estimate suggests that the lower bound of import growth rate for China will be about 6 percent annually. And by the year 2020, China's imports will be around US$3 trillion, which is helpful to balancing Chinas current account position8 these adjustments that I mentioned above are healthy, but they will undoubtedly affect China’s competitiveness. But what is the bottom line? In my opinion, as long as we can maintain a more or less balanced balance of payments account, this adjustment process can continue, which is healthy for China and will also contribute to the rebalancing of the world economy. As far as I can see, this process will keep going forward, and through channels such as prices it will adjust the economy and achieve what we have been pursuing for years, that is, a relatively balanced balance of payments account. China has become a major importing country. Right now, the annual import volume of China is about US$2 trillion. If this trend is to continue, a modest estimate suggests that the lower bound of import growth rate for China will be about 6 percent annually. And by the year 2020, China’s imports will be around US$3 trillion, which is helpful to balancing China’s current account position