THE 2018 Boao Forum for Asia （BFA） Annual Conference was a major diplomatic event hosted by China， with this years theme， “An Open and Innovative Asia for a World of Greater Prosperity.” With this year marking the 40th anniversary of the countrys reform and opening-up， visions of openness and development set the tone of this high-profile conference. The key topics of the forum – the Belt and Road Initiative and building a community of a shared future for mankind – undoubtedly boosted the confidence in and the formation of a consensus on economic globalization， free trade， and a more open and democratic global governance system.

The keynote speech delivered by President Xi Jinping conveyed Chinas resolve to further deepen its reform and opening-up， and promote economic globalization and global governance reform. Xi also spoke about challenges that affect global peace and development and proposed Chinas solution – building a community of a shared future for mankind.

Hailing the reform and opening-up as“Chinas second revolution，” Xi stated it had not only profoundly changed China but also greatly influenced the entire world. Why does he call it the second revolution？ Because Chinas reform and opening-up is based on the Chinese situation， fully considering the changing domestic and international circumstances. Upholding the principles of achieving peace and development，China has significantly increased social productivity and deepened its involvement in global economic governance. Overall， Chinas reform and opening-up has helped establish a solid foundation for national rejuvenation.

Alongside the reform and opening-up， Chinas governance system and capability have substantially improved， and China has rethought its relations with the rest of the world. Both domestically and internationally， people can see the achievement and significance of the reform and opening-up.

Throughout the countrys current path of reform and opening-up， China strikes a balance between independent development and embracing the international community. There are certain principles in reform and opening-up， during which Chinas national interests， political system， culture， national conditions， the will of its people， and global risks should be considered and balanced.

President Xi summarized Chinas experience， stating that it independently explores its path and constantly improves its system of socialism with Chinese characteristics. First， China takes into account the domestic and international conditions of the present era. Doing so allows China to pursue coordinated development both at home and abroad. Second， China remains independent and open to the outside world in seeking win-win cooperation. Third， China upholds the system of socialism with Chinese characteristics， and continues reforms to develop the socialist market economy. Fourth， as famously stated by Deng Xiaoping， “China crosses the river by feeling the stones（meaning to learn as it goes）.” This has allowed China to continually refine its development plan.