( September 28, 2015)

Your Excellency Minister Fazekas,

Your Excellency former Prime Minister Medgyessy,

Your Excellency State Secretary Íjgyártó,

Distinguished guests from the diplomatic corps,

Dear overseas compatriots,

Ladies and gentlemen,

Good evening! Thank you all for coming to the reception in honor of the 66th anniversary of the founding of the People's Republic of China!

Over the past 66 years, China has achieved great historic leaps. A development path of socialism with Chinese characteristics is established, the overall national strength is immensely elevated and people's lives greatly improved. Now, China ranks the second largest economy, the third largest foreign investor, and the largest trading partner for around 130 countries. Furthermore, last year nearly 100 million Chinese tourists made trips overseas. Our contacts and exchanges with all countries of the world are getting increasingly closer.

Under this background, China's development, especially the prospect of China's economic growth, has gained worldwide attention, together with some doubts and questions. What I'd like to say is, despite the weak recovery of global economy and the downward pressures in recent years, the overall performance of Chinese economy is still stable, and moving in a positive direction.

Firstly, the 7% growth rate in the first half of this year has met our expected goals, and it is among the highest in the world's major economies.

Secondly, the employment has steadily expanded in the upper half of this year, 7.18 million new urban jobs were created. Surveyed unemployment rate in 31 big cities was only around 5.1%.

Thirdly, household income grows steadily, disposable per captita income grows by 7.6%, faster than the economy.

Fourthly, prices are kept at a stable level, CPI rises by 1.6% in July year on year.

Lastly, foreign trade volume is basically stable. In the first seven months this year, China's export holds steady while import drops by 14.6%, this is the result of the sharp decrease of prices.

Meanwhile, we understand well that, the moderation of speed conforms to the economic rules, it does not necessarily mean the overall deterioration of the Chinese economy since the economic gross and base are constantly expanding. Because we are talking about a 10 trillion USD economy, even if we keep a 7% growth rate, the economic increment will reach 800 billion USD each year from now on. This volume is even bigger than that of a double-digit growth five years ago. From this sense, a 7% growth is not bad news for all.

Currently, China's economic structure has been constantly improved through adjustments, new economic growth areas are rapidly taking shape, and China is going through the process of a new type of industrialization, IT application, urbanization and agricultural modernization. All these have enabled China's economy to be highly resilient and shock-resistant. As Chinese Premier Mr. Li Keqiang said at the 9th Summer Davos Forum, by accelerating structural reform and pursuing an innovation-driven development strategy, we're confident to fully unleash the potentials of economic growth, and make sure the economy grows at medium-high speed and moves to medium-high development level. At the same time, China is committed to peaceful development and a win-win strategy of opening-up. We will work with all countries to promote an inclusive and balanced growth, a green and sustainable development.

Ladies and gentlemen,

Exchanges and cooperation between China and Hungary have entered an important stage of rapidly expanding in all areas. Our bilateral relations are at its historical best. The future is expected to be even brighter with the following advantages.

First and foremost, top leaders from our two countries are committed to push forward bilateral ties together. H.E. Prime Minster Orban made a successful visit to China in 2014, and reached extensive consensus on bilateral cooperation with Chinese leaders. Added to this, our Foreign Ministers signed an inter-governmental MOU on jointly building "One Belt, One Road". This is the first of its kind signed between China and a European country, and has laid an even more solid foundation for the future of bilateral relations.

Secondly, there are great potentials in bilateral pragmatic cooperation. Bilateral trade expands steadily, the total volume in 2014 exceeded 9 billion USD, up by 7.3% year on year. Hungary's export to China increased over 20%, bilateral trade structure is getting more and more balanced. To highlight, in the first seven months this year, Hungary's Food and Agro export to China reached 32.4 million USD, a two-fold increase year on year! Overall Chinese investment in Hungary exceeded 3 billion USD and is still growing. A few days from now, Bank of China is set to inaugurate the RMB Clearance center in Budapest. This center, open to the whole CEE region, will definitely bring more impetus for bilateral economic and trade cooperation.

Thirdly, people-to-people exchanges are full of highlights. The Hungarian Cultural Center in Beijing is already put to operation, and establishment of Chinese cultural Center in Hungary is well under progress. Hungary is home to the CEE Chinese teachers' training center, four Confucius institutes, including the first of its kind in European continent specialized in Traditional Chinese Medicine. We have increased governmental scholarships for each other, and reopened direct flights between the two capitals. Furthermore, China National Tourism Administration will set up its branch office in Budapest, this will open new opportunities for bilateral tourism cooperation.

Ladies and Gentlemen,

As a Chinese saying goes, "A fire burns high when everybody adds wood to it", it means success requires joint efforts from everybody. Achievements in our bilateral relations would not have been made without the support, assistance and involvement of the Hungarian Government, your people, friends from all walks of life, and the whole Chinese community in Hungary. My sincere thanks goes to everybody. It is my firm belief that, hand in hand and shoulder to shoulder, we are sure to bring greater success and brighter future to China-Hungary relations.

Before I conclude, please join me in the toast,

To the everlasting friendship between the two peoples,

To the prosperity of China and Hungary,

To the health and happiness of everyone,

Cheers!

Thank you!