China committed to reform and openness, President Hu

China will remain committed to the economic reform and openness it adopted three decades ago, President Hu Jintao said in a visit to South Korea.

Hu, in a speech to business groups on the second day of his visit, noted that this year is the 30th anniversary of Deng Xiaoping's reforms which have brought the nation unprecedented prosperity.

"China's development over the past 30 years was thanks to its policy of reform and openness," Hu told lunch guests.

"China's future development should also be based on reform and openness. The Chinese people will persist in their efforts to push through with reform and openness and to speed up the modernization of socialism."

Hu cautioned that China "still has to go a long way to achieve modernization and common prosperity benefiting all its people. We need to continue with strenuous efforts over a long period."

But he said China is inextricably bound to the rest of the world.

"At a time when globalization is deepening and scientific and technological innovation are speeding up, the connection between the future of China and that of the rest of the world is becoming ever stronger."

China, he said, would "continue following the path of peace and development, carrying out its policy of openness aimed at mutual prosperity, and pursuing peace and cooperation.

"The Chinese people, together with the world's people, want to push forward for the building of a world that will prosper in harmony and peace."