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Xi has many challenges ahead. With great courage, he is ready to lead the Party and the country to forge ahead with the reform.

Second, we should focus on development to deliver more benefits to our peoples. More than anything else, we should strive to deliver better lives to our people. Every country is entitled to an equal right to development; and no one has the right or the power to stop people in developing countries from pursuing a better life. We should strengthen development cooperation and help developing countries eliminate poverty so that people in all countries will live better lives. This is what fairness is essentially about; it is also a moral responsibility of the international community.

Xi urged efforts to strengthen basic research and application, pay attention to the role played by enterprises, enhance intellectual property protection, value innovative talent, and foster and strengthen new industries and innovation-driven enterprises.

A week ago, the first China International Import Expo (CIIE) was successfully held in Shanghai. It was attended by 172 countries, regions and international organizations, over 3,600 companies, and more than 400,000 Chinese and foreign buyers. Deals worth US.8 billion were sealed. The Hongqiao International Economic and Trade Forum, held as part of the Expo, attracted over 4,500 leading personalities from various sectors around the world. With such actual steps, China has demonstrated its commitment to trade liberalization and opening-up of its market. I wish to welcome you all to the second CIIE to be held next year. I am confident that the large market of China, with a population of close to 1.4 billion, will be a source of dynamic growth for the global economy.

Spain is the first stop of Xi's ongoing Europe and Latin America tour, which will also take him to Argentina, Panama and Portugal.