I offer my sincere congratulations to the People’s Republic of China and its courageous people for their 70th Anniversary, and for their unparalleled and unmatched achievements, with appreciation to our hosts for the warm hospitality in the great city of Shanghai.
By seizing the historical opportunity of accelerated globalization, China promoted its reform and development through furthering openness. With its comparative advantages in terms of geographical position, labor quality, cost, and industrial chain, China indeed enjoyed the huge benefits of the global division of labor by unswervingly pursuing reform and opening-up. The reason why the Chinese economy created miracles is precisely because it has taken a path that suits its own national conditions, rather than blindly following western theories.
