Chinese President Xi Jinping on Tuesday delivered a keynote speech at a conference marking the 40th anniversary of the country's reform and opening-up at the Great Hall of the People in Beijing.

Forty years ago, the Third Plenary Session of the 11th Communist Party of China (CPC) Central Committee was convened on this very day, heralding the start of China's reform, opening-up and socialist modernization.

Here are some highlights from Xi's speech:

In his speech, Xi reviewed the experiences of reform and opening-up made over the past four decades and pointed out nine "musts" in future efforts of the reform and opening-up.

Historic decision made

Xi hailed the pursuit of reform and opening-up policy and socialism with Chinese characteristics one of the three milestones in achieving China's great national rejuvenation in the modern times.

"Our Party made the historic decision of going for reform and opening-up based on a profound grasp of the future of the Party and the state, on an in-depth review of the experience gained in socialist revolution and development, on keen insights into the trend of the times and on a thorough understanding of people's aspirations and needs," Xi said.

Through reviewing past experiences and looking into the future, more reform measures have been taken since the 18th Party Congress. More than 1,600 reform initiatives have been introduced as reform is going deeper across the board in a swift but steady manner with breakthroughs on multiple fronts, Xi stressed. 

Progress in economy

He outlined the country's massive economic achievements over the period.

Since the implementation of the reform and opening-up policy, China's GDP increased from 367.9 billion yuan in 1977 to 82.7 trillion yuan in 2017, with an average annual growth of 9.5 percent, far more above the global average of 2.9 percent.

The country's share of global GDP has risen from 1.8 percent to 15.2 percent, generating more than 30 percent of the global growth.

Achievements in the political system

Achievements have also been made in China's political system, Xi said.

"In the past 40 years, we have been committed to the path of socialist political advancement with Chinese characteristics, deepening the reform of the political system, and developing socialist democracy," he said.

"People enjoy and exercise a wider range of democratic rights as prescribed by the law through more readily available channels and in more diverse forms," stressed Xi.

Participants applaud at the conference celebrating the 40th anniversary of China's reform and opening-up, the Great Hall of the People, Beijing, December 18, 2018. /Xinhua Photo

People's livelihoods improved

People's lives and well-being have continued to improve since the reform and opening-up, Xi highlighted, saying all-round progress has been made in ensuring people's access to childcare, education, employment, medical services, elderly care, housing, and social assistance.

Per capita disposable income increased from 171 yuan to 26,000 yuan nationwide in 40 years and a total of 740 million Chinese people have been lifted out of poverty, he said.

"Hunger, (food) shortage and poverty that plagued Chinese people for thousands of years has been generally left behind," Xi stressed.

China's resolution for peaceful reunification

China has stayed committed to the great cause of peaceful reunification of the motherland over the past 40 years, Xi added.

"We have upheld the one-China principle and the 1992 Consensus, strengthened cross-Straits economic and cultural exchanges and cooperation, and promoted the peaceful development of cross-Straits relations," he noted. "We have resolutely opposed and deterred separatist elements advocating 'Taiwan independence'." 

Community with a shared future for mankind

China has stayed committed to an independent foreign policy of peace, peaceful development and a win-win strategy of opening-up over the past 40 years, Xi reviewed.

"We have actively promoted the building of an open world economy and a community with a shared future for mankind, and pushed for the reform of the global governance system," Xi added. 

Further reform and opening-up ahead

Xi called for further efforts to follow such experience and "enrich and grow such assets through further reform and opening-up."He pointed out nine "musts" in future work, stressing the leadership of the Communist Party of China (CPC) in further reform and opening-up while staying on the path of the socialist system with Chinese characteristics.

Xi says CPC will press on with reform and opening-up

An event celebrating the 40th anniversary of China's reform and opening-up, the Great Hall of the People, Beijing, December 18, 2018. /Xinhua Photo

During the event, 100 Chinese people, from the fields of science, economics, grass-roots Party officials, model workers, state-owned enterprises, and the private sector, were honored for their contribution to the country's reform and opening-up.

Ten foreign friends were awarded friendship medals for their support for China's reform and opening-up.

This year marks the 40th anniversary of China's implementation of the reform and opening-up policy, a landmark program that has transformed the once poor nation into the world's second-largest economy. Over the past few decades, tremendous changes have taken place in the country.