Fintech News & Trends in Hong Kong and Asia

China’s State Council holds National Day reception

The Communist Party of China and state leaders Xi Jinping, Li Keqiang, Li Zhanshu, Wang Yang, Wang Huning, Zhao Leji, Han Zheng and Wang Qishan, attend a reception to celebrate the 72nd anniversary of the founding of the People's Republic of China along with nearly 500 guests from home and abroad in Beijing, capital of China, Sept 30, 2021. China's State Council on Thursday held the reception at the Great Hall of the People in Beijing. (XIE HUANCHI/XINHUA)

BEIJING – China's State Council on Thursday held a reception at the Great Hall of the People in Beijing to celebrate the 72nd anniversary of the founding of the People's Republic of China.

The reception, held a day ahead of the National Day, was attended by the Communist Party of China (CPC) and state leaders Xi Jinping, Li Keqiang, Li Zhanshu, Wang Yang, Wang Huning, Zhao Leji, Han Zheng and Wang Qishan, as well as nearly 500 guests from home and abroad.

On our way ahead, we still face many difficulties and challenges, and the journey remains long toward realizing the second centenary goal.

Li Keqiang, Chinese Premier

Premier Li Keqiang addressed the reception, while Vice Premier Han Zheng presided over it.

This year marks the centenary of the CPC. Under the leadership of the CPC, China has achieved outstanding development over the past 72 years that has attracted the world's attention, particularly completing the building of a moderately prosperous society in all aspects and embarking on the new quest to fully build a modern socialist country, Li said.

Noting that this year is the first year in China's 14th Five-Year Plan period (2021-2015), Li stated that China, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at the core, has coordinated epidemic response with social and economic development, and has effectively responded to the complex and grave international environment, as well as multiple other challenges from COVID-19 and severe floods.

READ MORE: China says opening-up policy will not waver at any time

China's economic performance has enjoyed sustained recovery and growth and people's living standards have kept improving, Li said.

"On our way ahead, we still face many difficulties and challenges, and the journey remains long toward realizing the second centenary goal," Li said, stressing that development is the foundation and key to overcoming all challenges.

Chinese Premier Li Keqiang addresses a reception held by the State Council to celebrate the 72nd anniversary of the founding of the People's Republic of China at the Great Hall of the People in Beijing, capital of China, Sept 30, 2021. (SHEN HONG/XINHUA)

To foster a new development paradigm and promote high-quality development, efforts should be made to implement regular epidemic prevention and anchor reasonable expectations, with focuses on scientific and technological innovation, expanding domestic demand and rural vitalization, Li noted.

Premier Li urged efforts to fully and faithfully implement the principles of "one country, two systems," "the people of Hong Kong governing Hong Kong," "the people of Macao governing Macao," and a high degree of autonomy for both regions

He said reform and opening-up is China's fundamental state policy, which also serves as the key source of momentum for China's future development. He underlined the need to deepen reform across the board and achieve more significant progress on reforms in key areas and sectors.

Li stressed the commitment to reforms oriented toward the socialist market economy and higher-level opening-up on an institutional basis, and called for efforts to create a market-oriented, law-based and internationalized business environment.

A raft of measures should be taken to create more jobs, promote equal opportunities, encourage entrepreneurship and innovation and increase urban and rural personal incomes, Li said.

Li urged efforts to fully and faithfully implement the principles of "one country, two systems," "the people of Hong Kong governing Hong Kong," "the people of Macao governing Macao," and a high degree of autonomy for both regions.

ALSO READ: Li: Electoral reform to uphold 'one country, two systems' in HK

Calling for actions to safeguard sovereignty, security and the development interests of the country, and measures to promote common development and progress of Hong Kong, Macao and the mainland, Li highlighted the need to continuously improve people's wellbeing and ensure long-term stability and prosperity.

Chinese Vice-Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, presides over a reception held by the State Council to celebrate the 72nd anniversary of the founding of the People's Republic of China at the Great Hall of the People in Beijing, capital of China, Sept 30, 2021. (XIE HUANCHI/XINHUA)

He stressed adherence to the overall principles and policies on work related to Taiwan and upholding the one-China principle and the 1992 Consensus, while promoting the peaceful development of cross-Straits relations and advancing national reunification for the benefit of people across the Taiwan Straits.

Li also urged moves to firmly oppose and deter any "Taiwan independence" separatist activities and external interference, calling on people on both sides of the Taiwan Straits to make joint efforts to achieve national rejuvenation.

China will step up exchanges and cooperation with other countries to jointly tackle global challenges and promote the recovery and growth of the world economy, Li vowed.

Li closed his speech by calling for rallying more closely around the CPC Central Committee with Comrade Xi Jinping at the core and unremitting efforts to build China into a great modern socialist country and realize the Chinese Dream of national rejuvenation.