Hainan in the middle of spring comes with green mountains, blue ocean, gentle breeze and warm sunshine. In this beautiful season, we gather here for the Boao Forum for Asia Annual Conferecne 2018. Here I want to quote the lyrics of a Hainan folk song: "It has been a long time since we last met, and I hope it would be a long time before we have to depart." Such a gathering with friends both and new today is a pleasant occation and I'm truely delighted.
Let me begine by extending, on behalf of the Chinese government and people and in my own name, sincere welcome to all the distinguished guests attending the forum and warm congradulations to the opening of the conference.
Since its inception with a focus on Asia and global perspective, the Boao Forum for Asia has gone a long way to build consensus in Asia, encourage cooperation, promote economic globalization and advance the building of the community with the shared future for mankind. With its active discussions and many valuable Boao proposals, it has made great contribution. This year the Boao Forum for Asia has just made major changes for its board directors. I wish to take this opportunity to express our warm congradulations to the new ones.
The theme of this year's conference is an Open and Innovative Asia for A World of Greater Prosperity. It is in line with the trend of the times and reflect the expectations of all parties. I'm sure that you're engaging in discussions here, and we'll produce many insightful views.
Ladies, gentlemen, friends,
They are historic occasions that empowers with the wisdom and strength to move forward. The year 2018 marks at the 40th anniversary of China's reform and opening up. And also for the host of our Forum Hainan Province, this year marks the 30th anniversary of the establishment of the province, and special economic zones of Hainan.
It was born in the process of opening up and reform and it flourished in that process. It is reform and opening up that has given life and prosperity to Hainan that has turned from the once backward and remote island into one of China's most open and dynamic regions, and that has enabled Hainan to achieve a phenomenal social and economic achievements.
Just like the radiance of the sun is reflected by a drop of water, the development of a country maybe epitomized by an individual region. Hainan stands as an important historical witness to China's reform and opening up over the past four decades.
In 1978, thanks to to the initiative of Mr. Deng Xiaoping, the third Plenary Session of the 11th CPC Central Committee marked the beginning of China's historic journey of reform and opening up. Our endeavor startingfrom rural areas to cities, from pilot programs to nationwide project and from economic restructuring to the comprehensive deepening of reform and opening up over the past four decades, has brought tremendous benefits to the Chinese people.With united and determined efforts, China's people have added a glorious chapter to the development epic of the country and the nation.
Over the last four decades, the Chinese people have significantly unleashed and enhanced productivity in China through hard work with an unyielding spirit. Heaven rewards those who work hard andglorious flowers in spring and solid fruits in autumn. The focus of endeavor in national development and the Chinese people's unwavering commitment to reform and opening up have brought tremendous changes to the country.
China has grown into the world's second largest economy, the largest industrial producer, the largest trader of goods, and the holder of the largest foreign exchange reserves.Over the past 14 years, China's GDP has averaged an annual growth rate of around 9.5 percent in comparable prices. And China's foreign trade in US dollar has registered an annual growth rate of 14.5 percent.
The Chinese people have emerged from a life of shortage and poverty and are now enjoying abundant and moderately prosperous life. According to current UN standards, more than 700 mln Chinese people have been lifted out of poverty accounting for more than 70 percent of the global total over the same period.
Over the last four decades, the Chinese people have blazed, with determined exploration and a pioneering spirit, a path of socialism with Chinese characteristics. The Chinese people have both a keen awareness of national realities and global vision.We champion independence and self reliance, while embracing openness and win-win cooperation.We uphold
the socialist system while sticking to the direction of reform to develop the social market economy.As we cross the river by feeling the stones, we have also strengthened the top level planning. We have studied new circumstances, we have addressed new problems as they emerge and we have summed up experience accordingly. We have successfully raised a path of socialism with Chinese characteristics. The successful practices of the Chinese people proved that there is more than one path leading to modernization, with the right direction, and with unremitting efforts, all roads will take us to Rome.
Over the last four decades, the Chinese people have been forging ahead and demonstrated the strength of the nation through keeping pace with the progress of the times. Ours is a true-seeking nation with an open mind. Our efforts to open up our minds have advanced side by side without endeavor of reform and opening up. Our search for new ideas and experiment of practices could be mutually reinforcing. Such is the great strength of a guiding vision.
Ours is a nation that has courageously engaged in self revolution and self-reform, constantly made improvements to the system of socialism with Chinese characteristics and kept overcoming institutional and systematic obstacles of development. Such is the greatest strength of institutional guarantees. Ours is an enterprising and pioneering nation with unprecedented motivation, initiative, and creativity. Such is the greatest strength of the one point 1.3 billion Chinese people, driving history forward as masters of their nation and real heroes.
Over the last four decades, the Chinese people have always embraced the world with an open arms, and actively contributed our share to the world. Reform and opening up is a great process that has seen China and the world achieve development and progress together. The Chinese people have made opening up a fundamental national policy. We have pursued development with an open door and accomplished a great transition from seclusion and semi-seclusion to all-around openness.
In this process, China has lived up to its responsibility as a major country from bringing into going-global, from WTO accession to the Belt and Road initiative. China has made a significant contribution to mitigating the Asian financial crisis and the global financial crisis. In recent years, contributing over 30 percent of global growth, China has become a key anchor and driver for the world economy and has become a positive force in advancing the noble cause of global peace and development.
Today, the Chinese people can say with great pride that reform and opening up, China's second revolution if you like, has not only profoundly changed the country but also greatly influenced the world as a whole.
An ancient Chinese classic teaches that heaven had its own law and those who embrace it will prosper. China's reform and opening up meets people's aspiration for development, innovation and a better life. It also meets global trends towards development, cooperation and peace. As such, China's reform and opening up can and will be a great success.
For decades of reform and opening up has given us many valuable inspirations, The most important one is that any country or any nation to achieve rejuvenation must follow the logic history and the trend of the times in their pursuit of progress and development.
Ladies and Gentlemen, Friends,
The world is undergoing a new rounds of major development, great change and profound readjustment. Mankind still faces many instabilities and uncertainties. A new round of technological and industrial revolution brings fresh opportunities and also presents unprecedented challenges.
In some countries and regions, people are still living in the shadow of war and conflict. Too many people, including the old, women and children, are still suffering from hunger and poverty. Climate Change, major communicable diseases remain formidable challenges.Openness versus isolation and progress versus retrogression: Humanity has a major choice to make.
In this complex and changing world, where are we headed? Where is the future of Asia?To answer these fundamental questions of our times, we must not let our vision to be blocked by floating clouds. Instead, we must dispel the clouds to see the sun as is said in Chinese, so as to have a keen grasp of the law of history and the trend of the times.
We live at a time timer with an overwhelming trend toward peace and cooperation in a world aspiring for peace and development. The Cold War mentality and zero-sum mentality look even more out of place. Putting oneself on a pedestal or trying to immune oneself from adverse developments will get nowhere. Only peaceful developments and cooperation can truly bring win-win or all-win results.
To live at a time with an overwhelming trend towards openness and connectivity, human history shows that openness leads to progress while seclusion leaves one behind. The world has already become a global village with our interests were intertwined and our economic and social progress interconnected. To promote common prosperity and development, we have no choicebut to pursue greater connectivity and integrated development.
We also live at a time with an overwhelming trend toward reform and innovation. A Chinese philosopher recognized as early as over 2,500 years ago, that one doesn't have to follow a beaten path if he wishes to benefit the peoples and one doesn't have to observe old onventions if he wishes to get things done. Reform and innovation are the fundamental driving forces of human progress. that those who reject them will be left behind to the dustbin of history.
To follow the trend of our times and advance the wellbeing of all people, I proposed initiative to build a community with a shared future for mankind. I had in-depth discussions with various parties. I am glad to see this proposal that has been endorsed by a growing number of countries and their peoples. It has also been written into important UN documents. I hope that people around the world will work together towards a shared future for mankind and make Asia world peaceful, tranquil prosperous, open and beautiful.
With a future in mind, we need to treat each other with respect and as equals. We should uphold the Five Principles of Peaceful Coexistence, respect the social system and development path independently chosen by each country, respect each other's core interests and major concerns and follow a new approach to state-to-state relations featureing dialogue rather than confrontation and partnerships instead of alliance.We must refrain from seeking dominance and reject the zero-sum game. We must refrain from beggar-thy-neighbor and reject power politics or hegemony while the strong bully the weak. Instead, we must properly managed differences and work together for enduring peace.
With a future in mind, we need to promote dialogue and share responsibility. We should have common comprehensive cooperative and a sustainable security and firmly uphold the international order and the system underpinned by the purposes and princinples of UN Charter. An integrated approach should be taken to cope with traditional and non-traditional security challenges. And coordination should be carried on both bilaterally and multilaterally. We must ensure that various security mechanisms coordinate with each other in an inclusive and a complementary manner rather than undercut each other. This will lead us to universal and common security.
With a future in mind, we need to engage in corporation for win-win results. We should stay committed to opening this connectivity and mutual benefits, building an open global economy and reinforcing corporation within G20 and APEC and other multilateral frameworks. We should promote trade and investment liberalization and the facilitation, support the multilateral trading system and then jointly create new technologies, new industries, and new forms and new models of business. This way we will make economic globalization more open , inclusive, balanced and beneficial to all.
With a future in mind, we need to upload inclusiveness and seek harmony without uniformity. We must have strengthen bilateral and multilateral cooperation in education, tourism, youth, media, poverty reduction and other fields. We should promote mutual learning amongst civilizations, and it will help us build the bridges of friendship, drive social progress and safeguard peace for the region and beyond.
With a future in mind, we need to treat nature with respect and treasure our planet. It's important to have a green, low carbon and the sustainable development and also respect, accommodate and protect nature. We need to increase exchanges and corporation, share experience and jointly meet the challenges of climate change, environmental protection and energy conservation and emission reduction. We must pursue further progress along the path of sustainable development, featuring increased production, higher living standards and healthy ecosystems so that our future generations could enjoy blue skies, clear water and the lush mountains.
Ladies and Gentlemen, Friends,
The 19th CPC National Congress held last October unshered in socialism with Chinese characteristics into a new era and drew a blueprint for turning China into a great modern socialist country in all respects. This new era of socialism with Chinese characteristics marks a new chapter in China's rejuvenation and also its efforts for shared prosperity with the rest of the world.
Each age and generation have their own challenges to change. China has come a long way but it has to overcome new challenges on this way ahead. In this new era, we'll stay committed to developing reform and prevail in whatever challenges that may lie ahead. We will tackle longstanding problems with courage and resolve and break the impediments of vested interest to see the reform through.
The Chinese people will continue to take bold steps in innovation, to boost development, and to follow people-centered development and the new development vision. We will modernize our economic system, deepen our supply side structural reform and implement at a faster pace, the strategies for innovation-driven development, rural revitalizations, and coordinated regional development. We will continue to work on targeted poverty alleviation, and promote social equity and justice, to give our people a greater sense of fulfillment, happiness and security.
The Chinese people will continue to increase openness and expand the cooperation. We will stay committed to the strategy of opening up for win-win results. We will pay equal attention to bringing in and going global and to break new ground in opening China further through links running eastward and westward across land and oversea. We will adopt the policies to promote high-standard liberalization and the facilitation of trade and investment and explore the opening of free trade port with Chinese characteristics.
The Chinese people will continue to work together with the rest of the world and make a greater contribution to humanity. China will stick to the peaceful development, actively pursue global partnerships, uphold multilateralism and take an active part in reforming the global governance systems. And doing so, we will be able to build a new type of international relations and promote a community with a shared future for mankind.
No matter how much progress China has developed, China will not threaten anyone else and attempt to overturn existing international system or seek sphere of influence.China will stay as determined as ever to build world peace, contribute to global prosperity and uphold the international order.
Ladies and Gentlemen, Friends,
A comprehensive study of world development trajectories shows that economic globalization is an irreversible trend of our times. In line with this conclusion, I emphasized in my report to the 19th CPC National Congress, China will continue to adhere to these fundamental national policy of opening up and development with the door wide open. I wish to make it clear to you all that China's door of opening up will not be closed and we're only open even wider.
What has happened proved that opening up was key to China's economic growth over the past 40 years and in the same vein, high-quality development of China's economy in the future can only be achieved with greater openness. Opening up is a strategic decision made by China based on his need for development as well as a concrete action taken by China to move economic globalization forward in a way that benefits people across the world.
China will adopt the following, major measures to pursue for the opening.
第一，大幅度放宽市场准入。今年，我们将推出几项有标志意义的举措。在服务业特别是金融业方面，去年年底宣布的放宽银行、证券、保险行业外资股比限制的重大措施要确保落地，同时要加快保险行业开放进程，放宽外资金融机构设立限制，扩大外资金融机构在华业务范围，拓宽中外金融市场合作领域。First, we will significantly broaden market access. A number of landmark measures are to be launched this year. On services, financial services in particular, an important announcement was made on measures to raise foreign equity caps on banking, securities, and insurance industries at the end of last year. We will ensure that these measures are materialized. At the same time, we will make more moves toward further opening, inccluding accelerating the opening up of the insurance industry, easing restrictions on the establishment of foreign financial institutions in China, expanding their business scope, and also opening up more areas of cooperation between Chinese and foreign financial markets.
On manufacturing, we have basically opened up the sector only with a small number of exceptions like automobiles, ships and aircraft shins are. Now, these industries are in a position to open up. Going forward, we will ease as soon as possible foreign equity restrictions in these industries, automobiles in particular.
Second, we will create a more attractive investment environment. Investment environment is like the fresh air, and only fresh air attracts more investment from the outside. China relied mainly on providing favorable policies, but now we will have to rely more on improving the investment environment.
We will enhance alignment with the international economic trading levels, increase transparency, strengthen property rights protection, uphold the rule of law, encourage competition, and oppose monopoly.
In March this year, we established a host of new agencies such as the State Administration for Market Regulation as part of the major readjustments of government institutions. The purpose is to remove the systematic and institutional obstacles that prevent the market from playing a decisive role in resources allocation and enable the government to better play its role.
In the first six months of this year, we will finish the revision of the negative lists and implement across the board the management system based on pre-establishment national treatment and negative lists.
Third, we will strengthen protection of intellectual property rights. This is the centerpiece of the system for improving property rights protection, and it will also provide the biggest boost to enhancing the competitiveness of the Chinese economy. Stronger IP protection is requirements of foreign enterprises and even more so of Chinese enterprises. This year, we are reinstituting the state intellectual property office, step up law enforcement, significantly raised the cost of offenders and fully unlock the deterrence effect of relevant laws.
We encourage normal technological exchanges and the cooperations between Chinese and foreign enterprises,and protect the lawful IPR owned by foreign enterprises in China. At the same time, we hope the foreign governments will also improve protection of Chinese IPR.
Fourth, we will take the initiative to expand the imports. Domestic demand is the fundamental driving force for China's economic development and it is essential requirements for us to meet the people ever-growing need for a better life.We does not not seek trade surplus.We have a genuine desire to increase imports and achieve greater balance of international payments under the current accounts.
This year, we will significantly lower the import tariffs for vehiclesand also reduce important terrorists for some other products.We will work hard to import more product that are competitive,needed by our people. We will seek faster progress toward joining WTO's government procurement agreement.We hope developed countries will stop imposing restrictions on normal and reasonable trade of high tech products and relax export controls on such trade with China.
This November we will hold the first China International Import Expo in Shanghai. This is a major platform. It will be an annual event and it is not just another expo in an ordinary sense but a major policy initiative taken to open up the Chinese market. Friends from around the world are welcome to participatethe expo.
I wish to emphasize that, with regard to all those major initiatives of opening up that I have just announced, we have every intention to translate them into reality sooner rather than later. We want the outcomes of opening up deliver benefits as soon as possible to all enterprises and people in China and around the world.
I am confident that with the efforts, China's financial sector will be much more competitive, our capital market will continue to enjoy healthy development, the building of modern industry system will be accelerated, our market environment will be greatly improved, and intellectual property rights will be effectively protected. In short, China will enter into a new phase of opening up.
Ladies and Gentlemen, Friends,
Fve years ago, I put forward the Belt and Road Initiative. Since then more than 80 countries and international organizations have signed the cooperation agreements with China. The Belt and Road Initiative may be China's idea, but these opportunities and outcomes are going to benefit the world. China has no geopolitical calculations, seeks no exclusive blocs, and imposes no business deals on others.
It must be pointed out that the Belt and Road Initiatie is a new initiative. It is perfectly natural for there to be different views. As long as the parties embrace the principle of extensive consultation, joint contribution and shared benefits show, we can surely enhance cooperation, and resolved differences. This way we can make the initiative the broadest platform for international cooperation in keeping with the trend of economic globalization and to the greater benefit of all our peoples.
Ladies and Gentlemen, Friends,
As a Chinese saying goes, mountain is formed by accumulation of earth, and an ocean is formed by accumulation of water. Happiness and a bright future will not appear automatically. Success only favors those with courage and perseverance. Let us dedicate ourselves to those open and win-win outcomes, brave to change and break new ground and keep striving for a community with a shared future for mankind and a better tomorrow for Asia and the world.
In closing, I will this forum a complete success. Thank you.