Fifth, we need to champion mutual benefit and deepen regional cooperation. In strengthening regional cooperation mechanisms, we should follow the principle of consensus and incremental progress, respect the common wish of all parties, and encourage the coexistence of different mechanisms while harnessing their respective strengths. We should adhere to open regionalism and respect the presence and interests of countries outside the region in Asia. We welcome the active participation of all countries, including the BRICS, in the cooperation process in Asia so that together, we will make Asia more peaceful, stable and prosperous.

Ladies and Gentlemen,

In the past 10 years, China's economy has enjoyed rapid and sustained growth. China's economic strength, comprehensive national strength and living standards have all reached a new high. China has undergone historic changes and made important contribution to economic growth in Asia and beyond. In these 10 years, China has deepened good-neighborly relations with Asian countries and participated extensively in regional cooperation. China has established various types of partnerships with almost all Asian countries and become the largest trading partner or export market of many Asian nations. In 2010, China's trade volume with Asian countries reached $931.6 billion. Benefiting 1.9 billion people, the China-ASEAN Free Trade Area (FTA) has become a model for FTA arrangements among developing countries. China's ties with Asia and the world have reached an unprecedented level in both breadth and depth, and China has played an important and constructive role in international and regional affairs. What has happened shows that China cannot achieve development and prosperity without Asia and Asia needs China for development and prosperity.

China has made remarkable achievements in development, but it remains the largest developing country in the world. Population, resources and the environment have put great pressure on its economic and social development, and there is lack of adequate balance, coordination or sustainability in its development. China has a long way to go before it can achieve modernization and common prosperity for all its people. Not long ago, China formulated and announced the outline of its 12th Five-Year Plan for economic and social development, which lists the main tasks for the next five years. We will adapt to the changing situation at home and abroad, and meet the new expectations of our people of all ethnic groups for a better life. We will follow the path of scientific development and focus on speeding up the transformation of the economic development pattern. We will place greater emphasis on putting people first, promoting all-round, balanced and sustainable development, taking a holistic approach, and ensuring and improving people's well-being. By doing so, we hope to promote sustained, steady and fast economic growth as well as social harmony and stability, and lay a foundation crucial to the building of a moderately prosperous society in all respects.

The full implementation of the 12th Five-Year Plan is of great importance to China's endeavor of opening wider to the world and deepening mutually beneficial cooperation with countries in Asia and beyond.

In the next five years, China will make great efforts to implement the strategy of boosting domestic demand, especially consumer demand, and put in place an effective mechanism to unleash consumption potential. We will ensure that consumption, investment and export contribute to economic growth in a coordinated way. We will follow a more proactive opening-up strategy, explore new fields and scope for opening-up, and broaden and deepen our shared interests with other parties. We will bring into play the important role of import in achieving macroeconomic balance and economic restructuring, and promote basic balance of our trade. This will provide important opportunities for countries in Asia and the rest of the world to increase exports to China.

In the next five years, China will make great efforts to pursue the strategy of "going global". We will encourage enterprises of different ownership structures to invest overseas in an orderly manner and carry out cooperation on projects that will improve local infrastructure and people's livelihood. We will make more investments in Asia and the emerging markets, and at the same time give more economic assistance to developing countries in Asia.

In the next five years, China will make great efforts to participate in global economic governance and regional cooperation. We will push for the reform of the global economic and financial systems and the building of a balanced multilateral trade regime that benefits all. We oppose all forms of protectionism and will work for a more just and reasonable global economic order. We will take an active part in 10+1, 10+3, the East Asia Summit and cooperation between China, Japan and the ROK, and promote the steady development of the China-ASEAN FTA. We will step up cooperation with neighboring countries in infrastructural development, including transport, energy pipelines, information and communication technologies and power grids, so as to achieve better connectivity in the region. We will advance exchanges and cooperation with other Asian countries in tourism, culture and education and between the young people to deepen our mutual understanding and friendship.

In the next five years, China will make great efforts to build a resource-conserving and environment-friendly society. We will further implement the basic state policy of resource conservation and environment protection, raise energy efficiency, cut the intensity of greenhouse gas emissions, develop a circular economy, promote wider application of low-carbon technologies, and actively respond to climate change. By doing so, we hope to balance economic and social development with population, resources and the environment, and embark on a path of sustainable development.

Ladies and Gentlemen,

The Chinese people, who emerged from great vicissitudes in modern times, are keenly aware of the value of peace and the importance of development. China will unswervingly follow the path of peaceful development and the win-win strategy of opening-up. We will always place Asia on top of our diplomatic agenda, stick to the policy of building good-neighborly relationships and partnerships with our neighbors, and take vigorous steps to advance our good-neighborliness and mutually beneficial cooperation with Asian countries and deepen mutual understanding and trust with them. We will remain committed to seeking peaceful solutions to disputes with neighbors over territory and maritime rights and interests through friendly negotiation. We will play a constructive role in resolving regional hotspot issues and take an active part in various forms of regional security dialogue and cooperation in order to preserve a regional environment conducive to peace and development in Asia. China will always be a good neighbor, good friend and good partner of other Asian countries.

To conclude, we have full confidence in an even brighter future of Asia. Let's work together to make it a reality.

I wish the BFA annual conference a great success.

(Source: news.xinhuanet.com)