• Non-performing bank loans within comfortable zone
• But risks from local govt financing are increasing
• China has become important engine of global economic recovery
• Prices basically stable, economy in good shape
• Confident in maintaining relatively fast economic growth
• China does not seek a trade surplus (a big pink thing just hurtled past my window)
• Deep impact of financial crisis has not been completely overcome
• Will build long-term mechanism to boost domestic consumption
• Increasing domestic consumption is key to overcoming economic problems
• Managing inflationary expectations is still a core goal
• Will maintain policy stability and enhance flexibility
• Stabilizing housing prices is key job of all local govts
• Will discourage speculative buying of property