It gives me great pleasure to meet you once again and discuss with you the plans for BRICS' cooperation and development. Let me begin by extending, on behalf of the Chinese Government and people and in my own name, a warm welcome to all the leaders and delegates present at the meeting.

The second decade of the 21st century has just begun. In the past decade, our world went through major development, major changes and major adjustments. The trend of peace, development and cooperation gained stronger momentum. The world moved further towards multi-polarity and economic globalization. New changes took place in the global economic governance and new breakthroughs were in the making in scientific and technological innovation. Emerging market economies engaged in dynamic cooperation. All these have brought valuable opportunities to the development of all countries.

On the other hand, the last decade also witnessed incessant international and regional hotspots that undermined world peace and stability. Development imbalance between the North and the South remained an acute problem. Global challenges such as climate change, environmental degradation, energy resources security, serious communicable diseases and major natural disasters raised wide concerns. Today, we are still confronted with the underlying impact of the financial crisis. Rising commodity prices and inflationary pressure have added to the uncertainties of the world economic recovery. Global financial governance remains a daunting task. The recent political turmoil and war in west Asian and north African countries have affected regional stability. There is indeed a long way to go towards achieving lasting peace and common prosperity.

Opportunities should be seized and challenges properly handled. At this historic juncture, as we usher in the second decade of the 21st century, we all need to reflect on one major topic: How to bring about a peaceful and tranquil 21st century in which humanity can enjoy common prosperity? I wish to share with you my observations in this regard.

First, we should endeavor to maintain world peace and stability. Peace and stability form the prerequisite and foundation for development. The two world wars in the last century caused mankind untold sufferings and world economic and social development severe setbacks. It is mainly due to the relatively peaceful and stable international environment that the world economy has been able to grow at such a fast pace in the post-war era. World Bank statistics show none of the countries persistently in violent conflict has achieved the UN Millennium Development Goals (MDGs). To maintain world peace and stability—so the people can live a happy and prosperous life—is the primary responsibility for governments and leaders of all countries.

We should abide by the purposes and principles of the UN Charter and bring into full play the central role of the United Nations and its Security Council in peacekeeping, peace making and peace building. We should seek peaceful settlement of international disputes through dialogue and consultation.

All countries, big or small, strong or weak, rich or poor, are equal members of the international community. We should work for common security in a spirit of democracy, inclusiveness, cooperation and win-win progress. Internal affairs of a country should be handled independently by the country itself and international affairs should be managed collectively through consultation by all. We should be committed to multilateralism and international cooperation, and promote democracy in international relations.

We should foster an international environment that supports efforts of countries to achieve peace, stability and prosperity in the light of their national circumstances. We should respect the sovereignty of all countries and their rights to choose their development paths and models in keeping with the principle of seeking common ground while shelving differences. And we should respect the diversity of civilizations and pursue common progress through mutual learning and drawing on each other's strengths.

Second, we should endeavor to promote common development of all countries. The international financial crisis has aroused much thought and discussion about world economic imbalances. In the final analysis, the biggest imbalance in the world economy is the development imbalance between the North and the South and the most fundamental problem in the world economy is the inadequate development of developing countries. Without their economic development, there can be no sustained and stable growth in the world economy. We need to renew our commitment to the development of developing countries and promote world economic recovery and growth.

We should put in place a fair and effective global development system, enhance development institutions, increase resources for development and work to fully achieve the UN MDGs. We should uphold the principle of "common but differentiated responsibilities" and work together to meet the global climate challenge. We should jointly uphold energy security in line with the principle of mutually beneficial cooperation, diversified development and coordinated energy supply. We should formulate a long-term international food cooperation strategy and ensure food security for all.

We should establish fair, just, inclusive and well-managed international monetary and financial systems to support global economic development and increase the say and representation of emerging markets and developing countries in these systems.

We should set up a just and equitable international free trade system, oppose protectionism in all its forms, strengthen the multilateral trading regime and push for early attainment of the goals of a development round at the Doha Round negotiations.

Third, we should endeavor to bolster international exchanges and cooperation. We all live on the same planet. Countries are now interconnected and interdependent with their interests more closely interwoven than at any time in history. The future and destiny of one country is increasingly tied to that of the world. To work with each other through thick and thin serves the common interests of all countries.

We should make full use of the multilateral cooperation mechanisms at various levels, including the UN, the G20 and the BRICS, to carry out practical and effective cooperation. Being the most universal, representative and authoritative inter-governmental international organization, the United Nations should always play a central role in international affairs. The G20 should continue to serve as the premier platform for global economic governance. Cooperation mechanisms among emerging market economies represented by the BRICS are enjoying robust development. They constitute a new model of global economic cooperation and an important way of pursuing multilateralism. They can continue to play an active role in boosting cooperation among emerging market economies.

Fourth, we should endeavor to strengthen the BRICS partnership for common development. Over the past five years since its inception, BRICS cooperation has made steady headway. The scope of the cooperation has been broadening and the levels increasing. A multi-tiered and wide-ranging cooperative structure has taken shape. Facts have shown that BRICS cooperation has contributed not only to the economic and social development of our five countries, but also to world peace and development. We should build on what we have achieved and plan for the future. We should stick to the basic principles of solidarity, mutual trust, openness, transparency and common development. Let us enhance mutual trust through cooperation and always be good friends and good partners. Our cooperation is open and transparent, and is aimed at mutual benefit and common development. We should stay firmly committed to the common interests of BRICS countries, step up coordination in the international economic, financial and development fields and strengthen the standing and role of emerging markets and developing countries in global economic governance. We should continue to deepen practical cooperation, vigorously tap our cooperation potential in economy, trade, health and sister-city relationships, and strive for fruitful results of our cooperation in various fields so as to further strengthen the economic and social foundation for BRICS cooperation.

Over the past 30 years since reform and opening up, China has made remarkable achievements in its development. In the past decade, a China imported $687 billion worth of goods on average every year, creating more than 14 million jobs in related countries and regions. In 2010, China achieved a 10.3 percent GDP growth and made an important contribution to world economic recovery. This fully shows that China's development is part of the world development. The better China develops, the greater the contribution it will make to the world.

At the same time, we are keenly aware that China has a large population and a weak economic foundation. Our development is uneven and per-capita GDP is low. We face considerable resources and environmental constraints in pursuing economic development. More than 100 million people live below the poverty line set by the UN. All of these are our challenges, and we must make arduous efforts in order to achieve our development goals.

The Chinese Government formulated and promulgated the Outline of the 12th Five-Year Plan not long ago. The Outline sets out the guiding principles, strategic objectives and major tasks for China's economic and social development in the coming five years. We will be committed to scientific development, and focus on accelerating the transformation of the economic development pattern. We will advance economic restructuring at a faster pace, strengthen capacity for innovation, ensure energy conservation and emission reduction, and deepen reform and opening up. We will take greater steps to protect and improve people's well-being and promote social equity and justice. We will strive for sustained, steady and relatively fast economic development, and promote social stability and harmony. We will ensure that our development is for the people and by the people, and the development achievements are shared among the people.

I am convinced that China, with more sustainable development, greater social harmony, better institutions and greater openness, will not only bring more benefits to its 1.3 billion people, but also make greater contribution to world peace and development.

China will continue to advocate peace, development and cooperation, and remain committed to the independent foreign policy of peace, the path of peaceful development and the win-win strategy of opening up. China welcomes the participation of all countries in its development endeavor. We will share development opportunities with other countries, and expand the dimensions of opening up. We will contribute to the development of the region and the world through our development and share prosperity with people around the world.

Dear colleagues, let us work together to build a harmonious world of lasting peace and common prosperity.