Thank you very much for the invitation of the meeting, which enables me to have the opportunity to talk about my personal views on the trend of regional economic development. Just at the "central economic conference", it has been stressed that in 2008, China will pay more attention to the development of regional comparative advantages, and actively and steadily promotes urbanization. This forms the keynote of China's regional economic development policies, which is to make an active use of the advantages of different regions. I would like to discuss it in three points.

All Chinese are very proud of the recent successful "Moon Landing Plan". I saw a picture of the panorama of the world at that night. As you can see, the lights are concentrated on several places at the night, those are the cities. In China, or even the whole world, regional economic development is firstly characterized by mutual promotion and promotion between city clusters and industry clusters.

Take China as an example. In China, several city clusters have already formed, such as the Pearl River Delta, Yangtze River Delta, Bohai Rim region and etc. Some industries with comparative advantages in related regions are very important driving force for these city clusters. The high-level aggregation of the upstream, midstream and downstream of related supporting sub-industries greatly reduced the cost of the development of different industries, giving the industries strong competitive advantages in the development of specific regions.

In his wonderful speech Mayor Zhang has just mentioned three pillar industries of Guangzhou: automotive, petrochemical, electronic and information products. Upstream or downstream complementary products related to electronic information are available in one or two hour's drive in the neighborhood of Guangzhou. Evolution of different industries leads to this industrial aggregation is not only the historical experience of the development of those developed countries, but also an important trend of the development and competition among different regions in China. Based on different comparative advantages, different industries gather in different places, draw all eyes of people, and further promote the city's urban agglomerations in that place. For example, Guangzhou is the center of the Guangzhou region, or Hong Kong and Guangzhou are centers of the Pan-Pearl River Delta region. This cluster also plays a very positive role in the development of the industries. We often say that information technology, especially the Internet has been highly developed today, but why people in the financial field are still willing to go to Wall Street or Hong Kong? A very important reason is that the accumulation and frequent exchanges of high-quality information resulting from this industry aggregation can be formed only in these areas. The information on the Internet may be not that much timely, accurate and reliable. This is an interesting phenomenon around the whole world.