Chinese Premier Li Keqiang on Wednesday warned that a “dysfunctional” real economy is the biggest threat to financial markets as he vowed to press on with industry restructuring while maintaining economic growth rates of 6.5-7 per cent.
中国总理李克强周三警告，实体经济不发展是金融最大的风险。他誓言推进产业重组，同时保持6.5%-7%的经济增长。
Speaking at the end of China’s annual parliamentary meeting, Mr Li sought to reassure an anxious public that Beijing still has the firepower to meet its financial commitments despite economic ructions.
在中国全国人大年度会议结束之际，李克强试图安抚焦虑的公众，称尽管遭遇经济波动，但北京方面仍有强大火力兑现其财政承诺。
“There may be small ups and downs but we can employ innovative means to deploy macroeconomic regulation to keep within our targets,” Mr Li told reporters during his annual press conference. “A dysfunctional real economy represents the biggest risk to financial markets.”
“中国经济在发展过程当中，还会有小幅的、短期的波动，但是如果经济运行滑出合理区间，我们有创新宏观调控的手段，可以稳定中国经济的运行，”李克强在他的年度记者会上对记者们表示。“实体经济不发展，是金融最大的风险。”
Economic jitters, which spooked investors and rippled through global financial markets last year, are again percolating as Beijing seeks to prune the overcapacity in heavy industry — a long-term gain that will yield pain in the short term.
去年曾困扰投资者、冲击全球金融市场的经济不安情绪，正再度泛起，原因是北京方面寻求化解重工业的过剩产能——这将带来长期效益，但在短期会造成痛苦。
Plans to shut unproductive mines and steel mills while keeping state-owned companies afloat and managing lay-offs received their first direct challenge last weekend when thousands of miners in a distressed coal town took to the streets for three days to demand unpaid wages.
关闭效益不好的矿井和钢厂、同时维持国有企业运营并管理裁员的计划，上周末遭遇第一个直接挑战。在一个陷入困境的煤矿小镇，成千上万矿工连续三天上街抗议，要求得到被拖欠的工资。
The orderly protests ended after lossmaking miner Longmay paid workers two months of overdue salary and bussed in hundreds of policemen. But the episode underscored the large gap between plans in Beijing and the realities in towns where a single company can be the largest taxpayer, employer and debtor.
亏损的矿企龙煤(Longmay)向工人们支付了两个月的拖欠工资，同时数百名警察乘坐大巴抵达抗议现场后，这场秩序良好的抗议结束了。但这一事件突显了北京的计划与地方城镇的现实（一家企业可能是最大的纳税人、雇主和债务人）之间的巨大落差。
Despite reforms to hand more taxes to provinces, many worry that indebted local governments will struggle to maintain the ruling Communist party’s priority of social stability in the face of mass lay-offs. Provinces most reliant on coal and industrial sectors will be hardest hit.
尽管推行了让省级政府掌握更多税收收入的改革，但很多人担心，面对大规模裁员，负债累累的地方政府将难以坚守执政的共产党关于维持社会稳定的头号目标。对煤炭和工业部门依赖最严重的省份将是重灾区。
Many provincial leaders lobbied for more central government support. during the annual parliamentary session. Acknowledging the growing divergence between regions and sectors, Mr Li said: “Problems that have built up over the years have become more visible”.
许多省级领导在全国人大年度会议期间争取获得更多中央支持。李克强承认地区和行业的走势出现分化，表示：“一些长期积累的矛盾在凸显。”
China’s social safety net, designed to replace the “iron rice bowl” of the jobs for life in the planned economy, has only been rolled out nationally over the past few years and remains relatively untested.
在中国，旨在取代“铁饭碗”（计划经济体制下的终身工作）的社会保障体系，只是在过去几年才在全国展开，至今没有经过多少检验。
Health insurance, for instance, is usually tied to a person’s registered home town even if he or she has moved thousands of miles away to work or, in the case of retirees, live with their children. Reforms to make insurance transferable across provincial lines are still under way.
举例来说，医保通常在人们户口所在的老家，即使他或她已经搬到千里之外的异地工作，或者是退休人员，与外地的子女一起居住。使保险能够跨省转移的改革仍在进行中。
Mr Li hinted that the central government could increase its contribution to a previously announced Rmb100m fund to “resettle” workers, designed to be matched by local governments and lossmaking employers in return for new loans. And he acknowledged the concerns over pensions that worry the urban middle classes.
李克强表示，中央政府已经建立了1000亿元主要用于转岗安置的专项资金，如有需要还可以增加。该基金的设计宗旨是由地方政府和亏损的雇主协同出资，以换取新贷款。李克强还承认了让城市中产阶层感到担忧的养老金发放问题。
“Honestly speaking, some areas have run into difficulty paying pensions but these are only isolated cases,” Mr Li said, noting the government had built up surpluses in the pension funds that could be tapped along with other financing sources.
“如实告诉你，确实有个别地方发生了养老金发放困难的问题，”李克强表示。他指出，政府已在养老基金中积累盈余，还有其它资金来源可以利用。
“In the long run, the Chinese government can meet its pension obligations and there will be absolutely no problem,” he said.
“中国政府对中国公民保证养老金发放，从全面长期来看是没有问题的，”他说。
“As long as local governments have done their best the central government can help.”
“只要地方政府尽力了，中央政府是会给予补助的。”