President Xi Jinping delivers a keynote speech at the opening ceremony of the Boao Forum for Asia Annual Conference 2018 on Tuesday.
The conference runs from April 8 to 11 in Boao, a town in South China's island province of Hainan, and is themed "An Open and Innovative Asia for a World of Greater Prosperity."
Here are the highlights of the speech.
Xi said China will significantly lower the import tariffs for vehicles and reduce import tariffs for some other products this year（今年，我们将相当幅度降低汽车进口关税，同时降低部分其他产品进口关税）.
"We will take the initiative to expand imports（主动扩大进口）," Xi said.
The country will work hard to import more products that are competitive and needed by the Chinese people（努力增加人民群众需求比较集中的特色优势产品进口）, he said.
China will also seek faster progress toward joining the WTO Government Procurement Agreement（努力增加人民群众需求比较集中的特色优势产品进口）, according to the president.
"China does not seek trade surplus; we have a genuine desire to increase imports and achieve greater balance of international payments under the current account（中国不以追求贸易顺差为目标，真诚希望扩大进口，促进经常项目收支平衡）," he said.
Speaking of the first China International Import Expo to be held in Shanghai this November, Xi said friends from around the world are welcome to participate in the Expo（今年11月，我们将在上海举办首届中国国际进口博览会，欢迎各国朋友来华参加）.
"It is not just another expo in an ordinary sense, but a major policy initiative and commitment taken of our own accord to open up the Chinese market（这不是一般性的会展，而是我们主动开放市场的重大政策宣示和行动）," he said.
Meanwhile, China hopes developed countries will stop imposing restrictions on normal and reasonable trade of high-tech products and relax export controls on such trade with China（我们希望发达国家对正常合理的高技术产品贸易停止人为设限，放宽对华高技术产品出口管制）, according to the president.
Xi said China will strengthen protection of intellectual property rights（加强知识产权保护）.
IPR protection is the centerpiece of the system for improving property rights protection, and it will provide the biggest boost to enhancing the competitiveness of the Chinese economy（这是完善产权保护制度最重要的内容，也是提高中国经济竞争力最大的激励）, the president said.
"Stronger IPR protection is the requirement of foreign enterprises, and even more so of Chinese enterprises（对于加强知识产权保护，外资企业有要求，中国企业更有要求）," he said.
China is re-instituting the State Intellectual Property Office this year to step up law enforcement, significantly raise the cost for offenders and fully unlock the deterrent effect of relevant laws（今年，我们将重新组建国家知识产权局，完善加大执法力度，把违法成本显著提上去，把法律威慑作用充分发挥出来）, according to the president.
"We encourage normal technological exchanges and cooperation between Chinese and foreign enterprises, and protect the lawful IPR owned by foreign enterprises in China（我们鼓励中外企业开展正常技术交流合作，保护在华外资企业合法知识产权）," he said.
Meanwhile, China hopes foreign governments will also improve protection of Chinese IPR（同时，我们希望外国政府加强对中国知识产权的保护）, the president said.
Attractive investment environment
China will improve the investment environment for foreign investors, Xi said.
Likening investment environment to air, Xi said that only fresh air can attract more investment from the outside（投资环境就像空气，空气清新才能吸引更多外资）.
"China relied mainly on providing favorable policies for foreign investors in the past, but now we will have to rely more on improving the investment environment（过去，中国吸引外资主要靠优惠政策，现在要更多靠改善投资环境）," he said.
Xi said that China will complete the revision of the negative list on foreign investment in the first half of the year and implement across the board the management system based on pre-establishment national treatment and negative list（今年上半年，我们将完成修订外商投资负面清单工作，全面落实准入前国民待遇加负面清单管理制度）.
"We will enhance alignment with international economic and trading rules, increase transparency, strengthen property right protection, uphold the rule of law, encourage competition and oppose monopoly（我们将加强同国际经贸规则对接，增强透明度，强化产权保护，坚持依法办事，鼓励竞争、反对垄断）," he said.
In March, China established a host of new agencies such as the State Administration for Market Regulation as part of a major readjustment of government institutions.
The purpose of this readjustment, Xi said, was to remove the systematic and institutional obstacles that prevent the market from playing a decisive role in resources allocation, and enable the government to better play its role（对现有政府机构作出大幅度调整，坚决破除制约使市场在资源配置中起决定性作用、更好发挥政府作用的体制机制弊端）.
China will launch a number of landmark measures this year to significantly broaden its market access（今年，我们将推出几项有标志意义的举措）, Xi said.
Late last year, China announced that measures would be taken to raise foreign equity caps in the banking, securities and insurance industries.
"We will ensure that these measures are materialized（重大措施要确保落地）," Xi said.
China will accelerate the opening-up of the insurance industry, ease restrictions on the establishment of foreign financial institutions in China and expand their business scope, and open up more areas of cooperation between Chinese and foreign financial markets（加快保险行业开放进程，放宽外资金融机构设立限制，扩大外资金融机构在华业务范围，拓宽中外金融市场合作领域）, he said.
On manufacturing, he said China has basically opened up this sector with a small number of exceptions on automobiles, ships and aircraft.X "These industries are now in a position to open up. Going forward, we will reduce as soon as possible limits on foreign investment in these industries, automobiles in particular（现在这些行业已经具备开放基础，下一步要尽快放宽外资股比限制特别是汽车行业外资限制）," Xi said.
Xi said that the Belt and Road Initiative may be China's idea, but its opportunities and outcomes are going to benefit the world（共建“一带一路”倡议源于中国，但机会和成果属于世界）.
China has no geopolitical calculations, seeks no exclusionary blocs and imposes no business deals on others（中国不打地缘博弈小算盘，不搞封闭排他小圈子，不做凌驾于人的强买强卖）, the president said.
"It must be pointed out that as the BRI is a new initiative, it is perfectly natural for there to be different views in cooperation. As long as the parties embrace the principle of extensive consultation, joint contribution and shared benefits, we can surely enhance cooperation and resolve differences（需要指出的是，“一带一路”建设是全新的事物，在合作中有些不同意见是完全正常的，只要各方秉持和遵循共商共建共享的原则，就一定能增进合作、化解分歧）," he said.
"This way, we can make the BRI the broadest platform for international cooperation in keeping with the trend of economic globalization and to the greater benefit of all our peoples（把“一带一路”打造成为顺应经济全球化潮流的最广泛国际合作平台，让共建“一带一路”更好造福各国人民）," Xi said.
Existing international system
China will not threaten anyone else, attempt to overturn the existing international system, or seek spheres of influence, no matter how much progress it has made in development（无论中国发展到什么程度，我们都不会威胁谁，都不会颠覆现行国际体系，都不会谋求建立势力范围）, Xi said.
The country will "stay as determined as ever to build world peace, contribute to global prosperity and uphold the international order（中国始终是世界和平的建设者、全球发展的贡献者、国际秩序的维护者）," he said in a keynote speech delivered at the opening ceremony of Boao Forum for Asia annual conference.
Chinese nation's missions in new era
Xi outlined missions the Chinese people need to undertake in the new era.
"Each age and generation have their own challenges and missions. China has come a long way, but it has to overcome new challenges on its way ahead（一个时代有一个时代的问题，一代人有一代人的使命。虽然我们已走过万水千山，但仍需要不断跋山涉水）," Xi said.
According to Xi, the nation's missions in the new era are as follows:
-- Continue to improve itself through reform（继续自强不息、自我革新）;
-- Take bold steps in innovation to boost development（继续大胆创新、推动发展）;
-- Continue to increase openness and expand cooperation（继续扩大开放、加强合作）;
-- Work together with the rest of the world and make greater contribution to humanity（继续与世界同行、为人类作出更大贡献）.
Free trade ports with Chinese characteristics
China will adopt policies to promote high-standard liberalization and facilitation of trade and investment, and explore the opening of free trade ports with Chinese characteristics（实行高水平的贸易和投资自由化便利化政策，探索建设中国特色自由贸易港）, Xi said.
"We will pay equal attention to 'bringing in' and 'going global', and break new ground in opening China further through links running eastward and westward, across land and over sea（坚持引进来和走出去并重，推动形成陆海内外联动、东西双向互济的开放格局）. "
A shared future for mankind
Xi called for people around the world to work together toward a community with a shared future for mankind and make Asia and the world peaceful, tranquil, prosperous, open and beautiful（希望各国人民同心协力、携手前行，努力构建人类命运共同体，共创和平、安宁、繁荣、开放、美丽的亚洲和世界）.
"With the future in mind, we need to treat each other with respect and as equals（面向未来，我们要相互尊重、平等相待）, " said Xi.
With the future in mind, Xi said, we also need to promote dialogue and share responsibility, engage in cooperation for win-win results, uphold inclusiveness and seek harmony without uniformity, as well as treat nature with respect and treasure our planet.
- Remarkable achievements
China began its historic journey of reform and opening-up in 1978, and the Chinese people have added a glorious chapter to the development epic of the country and the nation over the past four decades, Xi said.
Over the last four decades, the Chinese people have significantly unleashed and enhanced productivity in China through hard work with an unyielding spirit（40年来，中国人民始终艰苦奋斗、顽强拼搏，极大解放和发展了中国社会生产力）, Xi said.
Over the last four decades, the Chinese people have blazed a path of socialism with Chinese characteristics through determined exploration with a pioneering spirit（40年来，中国人民始终上下求索、锐意进取，开辟了中国特色社会主义道路）, according to Xi.
Over the last four decades, the Chinese people have kept forging ahead and demonstrated the strength of the nation through keeping pace with the progress of the times（40年来，中国人民始终与时俱进、一往无前，充分显示了中国力量）, he noted.
"Over the last four decades, the Chinese people have embraced the world with open arms and actively contributed our share to the world,（40年来，中国人民始终敞开胸襟、拥抱世界，积极作出了中国贡献）" Xi said.
"Today, the Chinese people can say with great pride that reform and opening-up, China's second revolution if you like, has not only profoundly changed the country but also greatly influenced the whole world（今天，中国人民完全可以自豪地说，改革开放这场中国的第二次革命，不仅深刻改变了中国，也深刻影响了世界！）, " the president said.
- Meeting global trend
Four decades of reform and opening-up has provided many valuable inspirations（中国40年改革开放给人们提供了许多弥足珍贵的启示）, Xi said.
"The most important one is that for any country or nation to achieve rejuvenation, they must follow the logic of history and the trend of the times in their pursuit of progress and development（最重要的一条就是，一个国家、一个民族要振兴，就必须在历史前进的逻辑中前进、在时代发展的潮流中发展）, " Xi said.
"China's reform and opening-up meets its people's aspiration for development, innovation and a better life. It also meets the global trend toward development, cooperation and peace（中国进行改革开放，顺应了中国人民要发展、要创新、要美好生活的历史要求，契合了世界各国人民要发展、要合作、要和平生活的时代潮流）, " Xi said.
- Reform and opening up will definitely succeed
Xi said China's reform and opening up will definitely succeed and that a Cold War mentality, zero-sum thinking, and isolationism would hit walls（妄自尊大或独善其身只能四处碰壁）.
Xi said that opening brings progress, while closure would lead to backwardness（开放带来进步，封闭必然落后）.
Xi said that in a world aspiring for peace and development, the cold-war and zero-sum mentality look even more out of place（和平与发展是世界各国人民的共同心声，冷战思维、零和博弈愈发陈旧落伍）.
"Putting oneself on a pedestal or trying to immune oneself from adverse developments will get nowhere," said Xi.
Xi said humanity has a major choice to make between openness and isolation, and between progress and retrogression（开放还是封闭，前进还是后退，人类面临着新的重大抉择）.
"We must dispel the clouds to see the sun, as we say in Chinese, so as to have a keen grasp of the law of history and the trend of the world（我们要不畏浮云遮望眼，善于拨云见日，把握历史规律，认清世界大势）," said Xi.
Xi said we live at a time with an overwhelming trend toward peace and cooperation as well as openness and connectivity（和平合作、开放融通的潮流滚滚向前）.
Xi said we also live at a time with an overwhelming trend toward reform and innovation, adding that those who reject them will be left behind and assigned to the dustbin of history（谁排斥变革，谁拒绝创新，谁就会落后于时代，谁就会被历史淘汰）.
Over the past 40 years, China's GDP has averaged an annual growth rate of around 9.5 percent in comparable prices（40年来，按照可比价格计算，中国国内生产总值年均增长约9.5%）, Xi said.
The country's foreign trade has registered an annual growth of 14.5 percent in US dollar（以美元计算，中国对外贸易额年均增长14.5%）, Xi said.
"The Chinese people have emerged from a life of shortages and poverty and are now enjoying abundant supply and a moderately prosperous life（中国人民生活从短缺走向充裕、从贫困走向小康）," Xi noted.
According to current UN standards, more than 700 million Chinese people have been lifted out of poverty, accounting for more than 70 percent of the global total over the same period（现行联合国标准下的7亿多贫困人口成功脱贫，占同期全球减贫人口总数70%以上）, he said.
Valuable 'Boao proposals'
With a focus on Asia and a global perspective, the Boao Forum for Asia has hosted active discussions and produced many valuable "Boao proposals" since its inception, Xi said.
The "Boao proposals" have helped build consensus in Asia, encourage cooperation, promote economic globalization and advance the building of a community with a shared future for mankind, said Xi.