Full text of Chinese President's speech at Boao Forum for Asia(3)

To respect one another and treat each other as equals, countries need to, first and foremost, respect other countries' social systems and development paths of their own choice, respect each other's core interests and major concerns and have objective and rational perception of other countries' growing strength, policies and visions. Efforts should be made to seek common ground while shelving differences, and better still to increase common interests and dissolve differences. The hard-won peace and stability in Asia and the sound momentum for development should be upheld by all. All of us must oppose interference in other countries' internal affairs and reject attempts to destablize the region out of selfish motives.

-- To build a community of common destiny, we need to seek win-win cooperation and common development. Our friends in Southeast Asia say that the lotus flowers grow taller as the water rises. Our friends in Africa say that if you want to go fast, walk alone; and if you want to go far, walk together. Our friends in Europe say that a single tree cannot block the chilly wind. And Chinese people say that when big rivers have water, the small ones are filled; and when small rivers have water, the big ones are filled. All these sayings speak to one same truth, that is, only through win-win cooperation can we make big and sustainable achievements that are beneficial to all. The old mindset of zero-sum game should give way to a new approach of win-win and all-win cooperation. The interests of others must be accommodated while pursuing one's own interests, and common development must be promoted while seeking one's own development. The vision of win-win cooperation not only applies to the economic field, but also to the political, security, cultural and many other fields. It not only applies to countries within the region, but also to cooperation with countries from outside the region. We should enhance coordination of macroeconomic policies to prevent negative spill-over effects that may arise from economic policy changes in individual economies. We should actively promote reform of global economic governance, uphold an open world economy, and jointly respond to risks and challenges in the world economy.

China and ASEAN countries will join hands in building an even closer China-ASEAN community of common destiny. The building of an East Asia economic community for ASEAN, China, Japan and ROK will be completed in 2020. We should actively build a free trade cooperation network in Asia and strive to conclude negotiations on an upgraded China-ASEAN FTA and on Regional Comprehensive Economic Partnership (RCEP) in 2015. In advancing economic integration in Asia, we need to stay committed to open regionalism and move forward trans-regional cooperation, including APEC, in a coordinated manner.

We will vigorously promote a system of regional financial cooperation, explore a platform for exchanges and cooperation among Asian financial institutions, and advance complementary and coordinated development between the Asian Infrastructure Investment Bank (AIIB) and such multilateral financial institutions as the Asian Development Bank and the World Bank. We will strengthen practical cooperation in currency stability, investment and financing, and credit rating, make progress in institution building for the Chiang Mai Initiative Multilateralization and build a regional financial security network. We will work towards an energy and resources cooperation mechanism in Asia to ensure energy and resources security.

China proposes that plans be formulated regarding connectivity building in East Asia and Asia at large to advance full integration in infrastructure, policies and institutions and personnel flow. We may increase maritime connectivity, speed up institution building for marine cooperation in Asia, and step up cooperation in marine economy, environmental protection, disaster management and fishery. This way, we could turn the seas of Asia into seas of peace, friendship and cooperation for Asian countries.

-- To build a community of common destiny, we need to pursue common, comprehensive, cooperative and sustainable security. In today's world, security means much more than before and its implications go well beyond a single region or time frame. All sorts of factors could have a bearing on a country's security. As people of all countries share common destiny and become increasingly interdependent, no country could have its own security ensured without the security of other countries or of the wider world. The Cold War mentality should truly be discarded and new security concepts be nurtured as we explore a path for Asia that ensures security for all, by all and of all.