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Daniel Russel, top U.S. diplomat for East Asia, commented recently that the upcoming ruling by an international tribunal on the arbitration case brought by the Philippines would be a critical moment for the "rules-based" future of the region.

Despite fiscal constraints, we continued to intensify efforts to help ensure the wellbeing of our people. New policies were launched to create jobs and business startup opportunities for college graduates and those with difficulties finding employment. Over the course of the year, 7.72 million government-subsidized housing units were basically completed in urban areas, work started on the reconstruction of 6.01 million housing units in rundown urban areas, and 4.32 million dilapidated houses in rural areas were rebuilt, helping large numbers of families that are struggling with housing realize their dream of having a home to settle in. We moved more quickly to improve conditions in badly built and poorly operated schools providing compulsory education in poor areas, deepened the reform of the professional title system for elementary and secondary school teachers, and increased the number of students from poor rural areas who were enrolled in key institutions of higher learning by a further 10.5%. Comprehensive reform was carried out in all public hospitals at the county level, the coverage of the serious disease insurance scheme was extended to more rural and non-working urban residents, a system of assistance for treating major and serious diseases was put in place, and a system for providing living allowances for people with disabilities who are in need and for granting nursing care subsidies to persons with severe disabilities was established. We increased subsistence allowances, benefits for entitled groups, and basic pension benefits for enterprise retirees, implemented the reform of the pension system for employees of Party and government offices and public institutions, and improved their wage system. Efforts to develop basic public cultural services were also intensified. All of this has resulted in a stronger sense of benefit in society.

"We hope G20 members will continue to advance reforms in international financial institutions, improve the global monetary system, and deepen cross-border taxation cooperation," said Li.

He underscored the "consciousnesses of the ideology, the whole, the core and the line," as well as conformity with the politics and actions of the CPC Central Committee with Xi Jinping as general secretary.

The president called on the two sides to use such new platforms as the Asian Infrastructure Investment Bank and the Shanghai Cooperation Organization to expand cooperation.