Only reform and opening up can develop China. We must not be afraid of any risks, and not be confused by any distractions.

At the same time, we are keenly aware that China is still the largest developing country in the world and we need to make long and hard efforts if we are to build a moderately prosperous society in all respects and basically achieve modernization.

In order to address world economic imbalances, countries around the world should make joint efforts to adjust their economic structure.

The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties. The underlying impact of the international financial crisis is far from over.

Since the beginning of the 21st century, thanks to the concerted efforts of both sides, China-U.S. relationship has on the whole enjoyed steady growth. Since President Obama took office, we have maintained close contact through exchange of visits, meetings, telephone conversations and letters.

China has made important contribution to the world economy in terms of total economic output and trade, and the RMB has played a role in the world economic development. But making the RMB an international currency will be a fairly long process.

Like other countries in the world, China must uphold its own sovereignty, territorial integrity and development interests. At the same time, we are willing to properly handle differences and disagreements in state-to-state relations in accordance with the basic norms governing international relations and the principle of mutual understanding, mutual accommodation, dialogue and consultation.