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-- On Oct. 23, 2018, Xi announced the opening of the Hong Kong-Zhuhai-Macao Bridge, a supergiant sea-crossing traffic project that links Guangdong, Hong Kong and Macao. This supergiant sea-crossing project has become a model of Greater Bay Area connectivity.

Xi said China has kept its economic growth within a reasonable range during the past year, noting that institutional reforms of the Party and the state have been comprehensively promoted along with other reforms, and China's level of opening-up has seen constant improvement.

He added that the launch of the culture and tourism year benefits the bilateral friendly cooperation under the framework of the Belt and Road Initiative toward a win-win end, as well as the development of tourism in the two countries.

"Our reform to transform government functions affects the vested interests of government departments. However, administrative streamlining is a must as excessive and cumbersome reviewing requirements would drive up institutional transaction costs and dampen market vitality," Li said. "Meanwhile, the government must enhance oversight and improve services. Its focus should shift to setting rules and standards."

Efforts will be made to extend the country's advantage of having sufficient maneuver room for economic development, improve people's living standards, promote high-quality development, and lay a solid foundation for securing a victory in building a moderately prosperous society in all respects, Li said.