in China, a system that integrates planned economy with market regulation to ensure sustained, stable and co-ordinated economic development. China's opening to the outside world means developing economic and trade relations with other countries on the basis of equality and mutual benefit, actively absorbing external resources and learning from forei9n scientific and technological achievements and managerial experience, including active participation in economic and technical co-operation among developing countries. After a decade of reform and opening-up, China1s gross national product has doubled; the volume of import and export has increased four times; the people's living standard is noticeably improved. The targets for the first stage of modernization are already -and sooner than expected - a reality. Facts have shown that the basic policy we have implemented so far is in liae wi~h realities in China. It is a correct policy that enjoys the wholehearted support of the Chinese people of all nationalities, and th~refore it will not change in any event. IM/11 A/S -18/PV. 3 47 (Mr. Zheng Tuobin, China) At present, while adhering to the policies of reform and opening -up, we are adjusting certain specific policies, cooling down the over-heated economy, improving macrocontrol and putting an end to the chaotic situation in some areas. This is by no means a retreat from the policies of reform and opening-up. It is aimed only at creating necessary conditions for better implementation of our established policy, promoting the sustained, stable and co-ordinated development of our national economy and accomplishing the strategic target of the second stage of modernization, namely, to double our gross national product once again in the last decade of this century. In that connection a stable environment is essential, and we are therefore taking effective measures to maintain political, economic and social stability in China. The Chinese Government will continue its domestic and foreign policies, 
**Analysis**
The text primarily focuses on China's economic development, discussing the country's transition to a market-oriented economy, its opening up to the outside world, and the government's policies to achieve sustained and stable economic growth. The text also touches on the impact of these policies on the people's living standard and the country's international relations.

**Category**
Economic development, International trade