Chinese President Xi Jinping speaks during an awards ceremony at the Great Hall of the People in Beijing on September 29, 2024, ahead of China’s National Day.
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BEIJING – Chinese President Xi Jinping said Monday that no challenge can stop the country from making progress and reiterated Beijing’s reunification goals with Taiwan.
He spoke at a reception commemorating the 75th anniversary of the People’s Republic of China, which was founded on October 1, 1949.
“The path ahead will certainly bring challenges,” Xi said, before calling on the country to overcome uncertainties and risks. “No challenge can stop China’s progress.”
The comments were translated by CNBC from a Chinese state media broadcast.
The brief speech, broadcast on the state broadcaster’s daily evening news program, noted that Xi and other top Chinese leaders entered the reception shortly after 5pm local time on Monday.
About 3,000 people, including foreigners, attended the event in Beijing, according to state media.
During his speech, Xi stressed the need to unite under the leadership of the Chinese Communist Party and reiterated Beijing’s “strong opposition” to “separatist” activities in Taiwan, while calling on both sides to increase economic and cultural cooperation.
He called reunification with Taiwan an inevitable development in history – something he has said before.
Beijing considers the democratically self-ruled island part of its territory.
There is no mention of trade tensions
Tensions between China and the US and Europe have increased in recent years, with Western countries increasing tariffs and restrictions on Beijing’s access to advanced technology.
Xi did not mention specific countries or trade disputes in his Monday speech, but portrayed China as a supporter of globalization. He broadly thanked the “friendly” countries and supporters of Chinese development.
He also emphasized Beijing’s claim to Greater China, saying that “national rejuvenation” was the hope of Hong Kong, Macau, Taiwan and all Chinese peoples.
The Beijing leader added that China would “boo” the development of Hong Kong and Macau – both self-governing regions ruled by Beijing under the principle of “one country, two systems.”
In a 2019 speech commemorating the 70th anniversary of the People’s Republic of China, Xi had said no power could influence China’s development, amid festivities that included a military parade and large-scale celebrations. The events marking the 65th anniversary were more subdued.
Xi’s speech comes at a time of rally in Chinese markets in recent weeks, with mainland China’s and Hong Kong’s main stock indexes recently rising to their highest levels in more than a year after authorities announced plans to ease economic support growth. On Thursday, a high-level meeting led by Xi called for halting the decline of the real estate sector and strengthening fiscal and monetary policies.
Although the People’s Bank of China cut interest rates last week, the Ministry of Finance has not yet announced additional budget support.