Hu Jintao strikes peace cord; pledges peaceful, cooperative China

Striking a peace cord on the eve of New Year, Chinese President Hu Jintao today said that Beijing would strive to work for welfare of people all over the world while transforming its export dependent growth model with "proactive" fiscal and "prudent" monetary policies.

In his address annual address to domestic and overseas audience over state TV and Radio, Hu allayed fears of China's rise as a major political and military power.

"We will forever walk the road of peaceful development and forever follow a win-win strategy of mutual development," he said.

China will hold high the flag of peace, development and cooperation, adhere to the independent foreign policy, maintain world peace and promote common development, Hu said.

"(We) will continue to work with the people of all countries to jointly promote the building of a harmonious world."

Hu said China will adopt a "proactive" fiscal policy and "prudent" monetary policy, speed up economic restructuring, improve people's livelihood and push forward reform and opening-up.

"International and regional hot issues have cropped up one after another, while peace and development of the world are facing unprecedented opportunities and challenges," he said in his speech titled 'Jointly Improve the Welfare of People from All Countries'.

China will stick to the principle of mutual benefits when opening up itself, he said, adding it will develop friendly cooperation with all other countries on the basis of the five principles of peaceful co-existence and continue to actively participate in international cooperation on global issues.

He said China was also actively engaged and played a constructive part in international cooperation to cope with global financial crisis, climate change and nuclear issues.

The world currently is witnessing multipolarisation and globalisation while science and technological development is on the edge of breakthrough, Hu said.

But the global economy is still moving on a long and winding path towards recovery and issues like climate change, energy, food security and public health security become more serious, Hu said.

On the domestic front Hu said China would accelerate the transformation of economic development pattern which will be a consistent thread of China's policy in 2011. China plans to alter its export driven growth model to that domestic consumption driven one from 2011, the beginning of the 12th five year plan.

He assured people of Hong Kong and Macao that mainland China would will stick to the guidelines of "one country, two systems" granting a high degree of autonomy to maintain long-term prosperity and stability of the both the regions.

On the Taiwan, he said China continue to advance exchanges and cooperation and ceaselessly work for the benefit of the compatriots on both sides of the Taiwan Strait.