China posted signs of steady economic growth coupled with modest inflation in October, providing encouraging news on the economy as a key policy meeting of the Communist Party got under way.
在中共十八届三中全会召开之际，中国公布了稳健的经济增长和温和的通货膨胀数据，显示经济形势令人鼓舞。
Industrial production rose 10.3% year over year in October, beating expectations and September's 10.2% rate, according to official data released Saturday. Inflation ticked up slightly, to 3.2% from 3.1%, staying within the government's stated comfort range.
中国统计局周六公布的数据显示，10月份中国工业增加值同比增长10.3%，好于市场预期和9月份10.2%的增幅。与此同时，通货膨胀率仅从3.1%小幅升至3.2%，保持在政府认为合理的区间之内。
The healthy showing by the industrial sector is a key indicator of the economy's overall condition and underscores rising demand for China's exports, said Tao Wang, an economist at UBS.
瑞银(UBS)经济学家汪涛说，工业增加值是衡量中国经济总体状况的关键指标，其良好表现说明中国出口需求正在上升。
'Momentum is still pretty strong,' said Ms. Wang. 'It may not be picking up much, but it's not slowing either.'
汪涛指出，经济动能仍相当强劲，也许反弹幅度不是太大，但也没有放缓。
Exports grew 5.6% year over year in October, after a slight fall the previous month, boosted by higher demand from the U.S. and Europe--an indication that a global economic recovery is gaining traction.
中国10月份出口继上个月小幅下滑后较上年同期增长5.6%，受到欧美市场需求上升提振，欧美市场需求回暖也是全球经济复苏动能增强的一个信号。
'Combined with the better export data in Korea and Taiwan, China's export numbers suggest some-although not yet decisive-improvement in global demand momentum,' said Louis Kuijs, an economist at RBS. He said higher exports will be a major engine of growth in the Chinese economy in coming months.
苏格兰皇家银行集团(RBS)经济学家高路易(Louis Kuijs)说，结合韩国和台湾出口数据好转的情况来看，中国出口数据表明全球需求正出现一些改善，尽管还称不上决定性的扭转。他表示，出口增长将成为未来几个月中国经济增长的主要引擎。
The picture of a steadying economy is likely to cheer policy-makers meeting in Beijing to discuss initiatives that the party leadership says will boost consumption and innovation and move away from investment and exports as drivers of growth. Economists say the shift should help sustain growth over the longer term. But the roll-out could sap some of the economy's momentum. So the stronger growth may give Chinese leaders some maneuvering room as they shift economic gears.
中国经济出现稳定迹象将令正在北京开会的领导人们感到欣慰，他们正在讨论刺激消费和创新、改变投资和出口拉动经济增长的措施。经济学家们表示，这一转型将有助中国经济保持长期增长势头。但转型初期可能导致经济的一些势头受到抑制。因而经济增长较为强劲可以给中国领导人在调整经济结构的过程中提供一些回旋余地。
China's gross domestic product growth, after slowing in the second quarter, rebounded to 7.8% in the third on the back of government infrastructure spending and tax cuts. Most economists think economic growth in the final quarter will exceed 7.5%.
受政府加大基建投资和减税措施的推动，中国国内生产总值增长率在第二季度回落后，第三季度反弹至7.8%。大部分经济学家预计，第四季度经济增长率将超过7.5%。
In other data released Saturday, retail sales grew 13.3% year over year in October, in line with September, and output of electric power climbed 8.4% from a year ago compared with 8.2% in September.
在周六公布的其他经济数据中，10月份零售额同比增长13.3%，与9月份持平，10月份发电量同比攀升8.4%，升幅高于9月份的8.2%。
The producer price index, which measures prices at the factory gate, was down 1.5% year over year, for the twentieth month in a row in negative territory. But it was flat in month-on-month terms, indicating that the deflation which has hammered profits in the industrial sector is easing.
中国10月份生产者价格指数(PPI)同比下降1.5%，为连续第20个月下降。但10月PPI环比持平，预示这一抑制工业部门利润的通缩情况正在缓解。
During the policy meeting, which ends Tuesday, officials and state media have said reforms likely to be discussed include liberalizing interest rates, raising prices for water and energy to encourage conservation and allowing a greater role for private capital in competing with a more favored state sector.
官员和国有媒体已表示，三中全会可能讨论的改革包括利率市场化、提高水和能源价格以鼓励节约以及允许更多私人资本进入国有资本主导的领域。此次三中全会将于下周二闭幕。
Other mooted changes include giving farmers clearer rights to their land and promoting urbanization by offering a better access to social services to the millions of rural migrants living in China's cities. Such reforms pose a huge administrative challenge and face opposition from within the government.
其他改革议题包括赋予农民更明确的土地权利，以及通过让生活在城市的中国数百万农民工更好地享受到社会服务来推进城市化。此类改革带来巨大的行政挑战，并且面临来自政府内部的阻力。
