UN General Assembly
1995

development aid and reduce the debt burden in favour of the developing countries. International economic cooperation should be guided by the principle of mutual opening-up, equality and mutual benefit. Such practices as implementing protectionist policies of one form or another and attaching political strings to economic assistance to developing countries are obviously misguided. Profound changes have taken place in China amid the surging tide of change and development across the world. The 17 years that have elapsed since the beginning of reform and opening-up in China have been unprecedented in terms of the economic growth rate and the improvement of the people’s living standards. At present, China enjoys political stability, economic prosperity, ethnic harmony and vigorous advances in democracy, legality and community undertakings. China’s exchanges and cooperation with the rest of the world have reached a level unprecedented in both scope and depth. Although there may still be many difficulties and challenges along the road ahead, we are confident that, 11 through several generations of hard work, our people will lift China out of economic and cultural backwardness and