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In fact, however, no rights could come into being instantly and those rights established in history undoubtedly should be respected by the international law.

To this end, the country should have a global vision, establish development strategies in a timely manner, be confident in innovation, and be known for original theories and discoveries, he said.

The fundamentals of the Chinese economy have remained unchanged, and our macro policies will maintain continuity and stability. In the meantime, we will continue to innovate means of macro control, implement the proactive fiscal policy with greater intensity and efficiency, and carry out the prudent monetary policy in a flexible and appropriate fashion. We will channel more resources into areas that help strengthen weak links, increase the momentum of development and take development to a higher level, as well as into areas of the new economy that serve to promote economic transformation and upgrading. The current debt ratio for the Chinese government is around 40 percent, and is only around 16 percent for the central government, lower than many other major economies. This has given us space for a proactive fiscal policy. A high savings rate in China means huge potential for the development of multi-tiered capital markets. It also means major leeway for improving financial regulation methods and financial resource allocation. We are in a position to create conditions to gradually lower corporate leverage ratio and financing costs in a market-based and law-based manner. We not only have sufficient policy tools to keep economic performance within the reasonable range. We also have strong ability to prevent systemic or regional risks. In the stage of transition, short-term fluctuations of economic growth are hardly avoidable, but the Chinese economy will not head for a "hard landing". And we will be able to achieve the main economic and social development targets set for this year.

Xi expressed the hope that Germany and the European Union would view competition and cooperation objectively, appropriately address trade disputes with China and honor their obligation stated in Article 15 of the accession protocol signed when China joined the World Trade Organization in 2001, to ensure healthy development of the economic and trade ties between China and the European side.

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