Reforms will stay the course in new era

As President Xi Jinping gave his highly-anticipated speech on Tuesday to mark the 40th anniversary of reform and opening-up, it was closely watched internationally in light of the 90-day truce in the Sino-US trade dispute from Dec 1.

Xi called the pursuit of reform and opening-up, and socialism with Chinese characteristics "a milestone in realizing the Chinese nation's rejuvenation". He emphasized the importance of innovation, which has been prominently displayed by world-class productivity in the Greater Bay Area of South China, and international cooperation, as evidenced by the Belt and Road Initiative that's fueling globalization.

In particular, Xi's speech was clear about China's historical debt to Deng Xiaoping and other reformers - and the need to go further.