Full Text: Li Keqiang's speech at the opening plenary of Boao Forum for Asia Annual Conference 2016 (1)

Chinese Premier Li Keqiang on Thursday delivered a speech at the opening plenary of Boao Forum for Asia Annual Conference 2016.

The following is the full text of Li's speech:

A New Vision for A Dynamic Asia Through Joint Efforts

Speech by H.E. Li Keqiang

Premier of the State Council of the People's Republic of China

At the Opening Plenary

of the Boao Forum for Asia Annual Conference 2016

Boao, 24 March 2016

Distinguished Guests,

Ladies and Gentlemen,

Dear Friends,

I am delighted to be back for the Boao Forum for Asia Annual Conference and to meet with so many friends, both old and new. On behalf of the Chinese government, let me extend warm congratulations on the opening of this year's annual conference and give my hearty welcome to all participants coming from afar.

Just two days ago, Belgium was hit by serious terrorist attacks, and Prime Minister Charles Michel had to cancel his scheduled attendance and address today. Here, we give our deep condolences to the families of the victims. China stands firmly opposed to terrorism of all forms.

We gather here in Boao at the beginning of the spring season, on an enchanting and peaceful day. But looking at the global economy, we see difficulties lingering and undercurrents lurking. Boao brings together heads of government and leaders from businesses, think tanks and the media. I look forward to hearing your wisdom and insights about how we could together open up a new vision for a dynamic Asia.

Today, almost eight years after the international financial crisis struck, the ripples of its implication are still being felt around the world. The world economy is going through profound adjustments. Developed economies are experiencing slow recovery and emerging economies are performing unevenly. Global trade continues to contract, and both global commodities prices and financial markets are fluctuating. Geopolitical risks are growing, and uncertainties and destabilizing factors are on the rise. In Asia, the problems of underdevelopment and imbalances remain acute. Many Asian countries are faced with export decline, growing debts, and economic slowdown. Some have even witnessed sharp depreciation of their currencies coupled with faster capital flight. No wonder some say that the Asian economy is facing one of the toughest times in recent years.

While things may not look good, we must not lose confidence. The truth is, Asia has emerged only stronger from the two previous financial crises. Quite many Asian countries have become much more experienced as to how to beef up the real economy and fend off financial risks. Regional cooperation in Asia has also delivered fruitful results. Last year, growth in Asia was still faster than the global average. Asia's share in the global economy further increased, and Asia contributed to about one third of global trade. This part of the world has remained one of the most dynamic globally.

At last year's annual conference, President Xi Jinping put forward the major initiative to build a community of shared destiny and open up a new future for Asia. The theme of this year's annual conference is "Asia's New Future: New Dynamics, New Vision". The community that we are committed to build is one of development and cooperation. Asia is a major force for world peace and development, as well as a major engine driving world economic growth. It is also an important factor promoting progress of world civilizations. As long as Asian countries work together with firm commitment and unity, we will be able to get over difficulties and embrace an even brighter future. Along that line, I wish to share the following thoughts with you:

First, we need to jointly uphold peace and stability. When we drink water, we should not forget its source. Asia owes the past decades of rapid growth to an environment of overall peace and stability in the region. As the saying goes, good neighbors mean good life. The past sufferings of war and turmoil have taught the Asian people the value of peace. Asia's post-war development shows that at all development stages, we must stay committed to good-neighborliness and must never let the minor differences or disagreements between us stand in our way. It is through dialogue and cooperation that we could find the "golden key" to development. We need to continue to treat each other as equals and live with each other in peace, and we need to work together to increase common ground, reduce differences, and build a solid foundation for peace and stability in the region. (mo