Fourth, I will talk about enhancing the sense of mission and responsibility of Internet companies and making joint efforts for the sustained and sound development of the Internet.

As China's Internet companies have grown in both size and strength, they have played an important role in promoting steady economic growth, creating jobs, and improving public well-being. The sustained and healthy development of companies is not only a goal that entrepreneurs strive towards; it is also essential for our country's development. The future prospects of companies are closely linked to the development of the country. Businesses will struggle to thrive if they do not have the support of the country and people, or if they diverge from the principles of serving the country and people.

At a joint meeting of political advisors from the China National Democratic Construction Association and the All-China Federation of Industry and Commerce held during the Fourth Session of the 12th National Committee of the CPPCC earlier this year, I stressed that China's basic economic system, whereby public ownership plays the dominant role and ownerships in other forms develop side by side, is a major political principle established by the CPC. It is an important component of the system of Chinese socialism, and a necessity for improving the socialist market economy. I also stressed that the CPC's stance on upholding the basic economic system is clear, consistent, and constantly deepening, that it has never wavered, and that it will not and cannot change. Not only did I speak at the meeting, my speech was quickly made available to the public. The intention was to offer reassurance to our country's many entrepreneurs.

In a country as large and as populous as ours, economic and social development is only possible with the concerted efforts of the many. The public and non-public sectors should support and complement one another, as opposed to mutually excluding and undermining each other. If our non-public enterprises get bigger, stronger, and go global, thereby making a bigger contribution to the country and people, it is something that the country should be proud of, and there is no doubt whatsoever that the CPC and government are behind this.

China has more than 700 million Internet users, and this makes management not only necessary but also highly complex and challenging. Companies need to assume their responsibilities, and so do the CPC and government. No one side can shirk its responsibilities. Websites should assume the principal responsibility for the management of online information, while the administrative departments of the government should enhance their regulation. Competent authorities and companies should collaborate and coordinate closely with each other, so as to avoid the old problem of management being overly lax one moment and overly tight the next, and pave a new path of joint management and benign interaction.

First of all, we should support and encourage businesses whilst promoting regulated development. Companies are oriented directly towards markets. Located on the front lines of innovation and consumer demand, they are highly sensitive to the market, perceptive of the need for innovation, and have a strong desire to innovate. We should support companies in becoming the principal actors in R&D, innovation, and industry, and support them in deploying cutting edge technologies, pursuing innovation in core technologies, creating and making use of all opportunities, engaging in global competition, and securing broader prospects for overseas development.

Today, problems such as cut-throat competition and the abuse of dominant market positions are present in China's Internet market, and small and medium-sized enterprises have voiced much dissatisfaction over this. It is therefore important that we regulate the market and encourage benign competition. This will not only help enterprises to unleash their innovativeness, raise their competitiveness, and increase their market shares, but will also serve to balance the interests of various parties, safeguard national interests, and ensure that the public are better served. We need to step up our protection of intellectual property rights, raising the price of infringement and the cost of breaking the law in order to deter such acts. At the Fourth Plenary Session of the 18th CPC Central Committee in 2014, we proposed improving a system for protecting property rights with fairness as the core principle, better protecting the property rights of natural persons and economic organizations of all types of ownership, andabolishing clauses in laws and regulations that go against the principle of fairness. These requirements need to be implemented as soon as possible.

Secondly, we should combine policy guidance and law-based management. To create an environment more favorable to business, the government must accelerate the reform of its review and approval, financing, and patent systems, cut the number of repeated checks and accreditations, implement a "higher-price-for-higher-quality" procurement system, lighten the financial burden on businesses, and dismantle institutional barriers. Following the Third Plenary Session of the 18th CPC Central Committee in 2013, the Central Committee established the Central Leading Group for Comprehensively Deepening Reform with me as the leader. Many of the reforms introduced by the group are linked with what I have just mentioned. It is essential that reform continues to move forward. This is what I meant when I said that we had to have the courage to tackle tough problems, brave treacherous waters, and surmount formidable obstacles.

At the same time, we need to accelerate the process of Internet legislation and refine law-based regulatory measures in order to defuse Internet-related risks. In the recent cases of Ezubao and Zhongjinxi, "Internet finance" was used as a ploy for the illegal raising of funds. This resulted in severe financial losses for many members of the public, having an extremely negative impact on our society. Cases of online fraud are currently on the rise. In addition to assuming various new forms, such scams are demonstrating increasingly high levels of technological sophistication. This is a reminder that we must be vigilant of the spread of risks as we are developing new technologies and new business.

We need to lawfully strengthen the management of big data. Internet companies are in possession of data that has a bearing on our national interests and security, and they must guarantee the security of this data. Companies should view data security as a matter of great importance. If companies run into problems in data protection and security, their reputations may suffer as a result.

Thirdly, we need to lay emphasis on both economic and social effects. In addition to economic and legal responsibilities, a business also carries social and moral responsibilities. The bigger a company is, the larger its social and moral responsibilities become, and the more the public will expect of it in this regard. China's Internet companies have assumed many social responsibilities as they have developed, and this needs to be acknowledged. I hope this can be kept up.

Our actions shape the way that others see us. As I have said before, the most genuine kind of wealth is that which is steeped in love and care, and the most competitive and vibrant companies are those that actively assume their social responsibilities. Websites should not regard visitor numbers as their only goal; online stores should be on guard against counterfeit and shoddy goods; social media platforms should not become rumor-churning machines; and search engines should not determine the order of search results based on the amount of money that people pay. I hope that Internet companies will strike a balance between economic and social considerations, and that they can remember their roots, give back to society, and benefit the people as they grow.