BEIJING, Nov. 29 (INP): China is confident that they will meet their economic growth target of 6.5 percent, by strictly adhering to ‘4 Rs’ formula. "Four Rs" that offer a glimpse to China's progress are” : Resilience: Despite some short-term fluctuations, the economy continued firm growth with GDP expanding 6.9 percent year-on-year in the first three quarters. The job market is stable with registered unemployment in Chinese cities standing at 3.95 percent at the end of the third quarter, the lowest level since 2008. Nearly 12 million new jobs were created in cities during January-October, exceeding the annual target of 11 million. CPI growth stood at 1.5 percent compared with a year ago in the first ten months, well below the target of 3 percent. Resilience in the less developed northeastern rust belt has also improved thanks to the establishment of the Liaoning Free Trade Zone which allows old industrial cities to attract more investment, take advantage of the Belt and Road Initiative, and explore economic cooperation with Northeast Asia and Europe. REDUCTION: China has started serious re-balancing by cutting excess capacity in the steel and coal sectors, where it has the highest output in the world. Despite the challenge of job losses and re-employment, China has already met the year's capacity reduction target. As a result, its industrial capacity utilization rose to the highest level in five years, reaching 76.6 percent from January to September. RESTRUCTURING: Instead of heavily relying on foreign trade and investment, the Chinese economy has drawn more strength from consumption, services and innovation. The service sector expanded 7.8 percent year on year in the first three quarters, compared to 3.7 percent in the primary industry and 6.3 percent in secondary industry, contributing 58.8 percent to the economic growth. ROBOTS: The broader use of robots indicates that China's manufacturing is getting smarter. As of October, the output of industrial robots soared by 68.9 percent, amid fast growth of AI technology. Chi Fulin, head of the China Institute for Reform and Development, has predicted annual growth of at least 6 percent in the next five years. INP/J/AH