Despite a significant slowing down in the growth of government revenue and a “credit crunch” in the middle of this year when the overnight inter-bank rate surged to abnormal levels, we stayed focused and did not inject liquidity into the economy, despite what many expected.

We have adopted a host of measures to address both current and long-term needs. For example, we have steadily released the dividends of reform, provided a level playing field for businesses – private capital in particular – and tapped the potential of the market.

We generated the internal driving force of economic growth, improved supply and boosted domestic demand through structural adjustment.

These efforts have enabled us to tide over the difficult period. The Chinese economy is now on a stable footing and stays within a comfortable range, with GDP growth at around 7.5pc and the inflation rate under 3.5pc. It is expected that more than 12m jobs will be created this year.

We have been responsible not only for our own sake, but also for the sake of the wider world because this will create more opportunities for global growth and contribute to the recovery of the world economy.

As the world watched closely, the third Plenary Session of the 18th Communist Party of China Central Committee last week adopted a series of decisions aimed at comprehensively deepening reform in China.

These decisions will not only speed up China’s social and economic development, but also help address resources and environmental constraints, as well as uneven development between urban and rural areas and among different regions, thus bringing greater prosperity to the Chinese people and creating new opportunities for our relations with the outside world.

Chief among these are the growing ties between China and Europe.

China’s modernisation programme will create historic opportunities for mutually beneficial co-operation between the 2bn people of China and Europe, including those in the UK.

Let us seize this opportunity and deliver the benefits which co-operation can bring to all our peoples.

The author is Premier of the State Council of the People’s Republic of China. This article was first published at The Telegraph.