It is our view that the establishment of a new international political and economic order should give expression to the universal aspiration and common interests of all the peoples in the world and reflects the demand of historical development and the progress of the era. The Five Principles of Peaceful Co-existence, the purposes and principles of the UN Charter and other universally recognized norms governing international relations should constitute the basis of the new international political and economic order. Specifically, such a new order should adhere to the following principles:

First, mutual respect for each other's sovereignty and territorial integrity, mutual non-aggression and mutual non-interference in each other's internal affairs.

Second, insist on settling international disputes by peaceful means. In the area of security, countries should trust one another and work together to maintain security. Cold war mentality should be totally discarded and a new security concept featuring mutual trusts, mutual benefits, equality and coordination should be fostered. Countries should settle their disputes through dialogue and cooperation and should not resort to the use or threat of force.

Third, all nations enjoy sovereign equality. Every country strong or weak, rich or poor, is an equal member of the international community and has the right to equal participation in international affairs. The affairs of each country should be left to the people of that country to decide and world affairs should be determined by all countries concerned through consultations on the basis of equality, and global challenges should be dealt with through international collaboration.

Fourth, respect should be given to the national conditions of each individual country while seeking common ground and shelving differences. Chinastands for maintaining the diversity of the world and is in favor of promoting democracy in international relations and diversifying development models. Countries having different civilizations and socialsystems and taking different roads to development should respect one another and draw upon one another's strong points through competition and comparison and should develop side by side by seeking common ground while reserving differences. Social systems and differences in the perceptionof values should not be an obstacle in the development of normal state to state relations, still less to be used as a pretext to interfere in the internal affairs of other countries.

Fifth, mutually beneficial cooperation and common development. Different countries, particularly the developed and the developing countries, should cooperate with one another, work for equality and mutual benefits and seek common progress. The old and irrational international economic order should be transformed so that it would be of benefit to maintaining the rights of all nations, the developing countries in particular.

China stands ready to work jointly with all nations for promoting the establishment of a fair and rational new international political and economic order, bringing about democracy in international relations and creating a new world of lasting peace and universal prosperity.