Hu says China committed to economic reform

President Hu Jintao said Tuesday that China remains committed to bold economic reforms introduced 30 years ago and urged South Korean firms to invest more in his country's modernisation.
Hu, in a speech to business groups on the second day of his visit to South Korea, noted that this year is the 30th anniversary of Deng Xiaoping's reforms which have brought the communist-ruled nation unprecedented prosperity.
"China's development over the past 30 years was thanks to its policy of reform and openness," Hu said through a translator.
"Its 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 modernisation of socialism."
Hu cautioned that China "still has to go a long way to achieve modernisation and common prosperity benefiting all its people" but added that it is inextricably bound to the rest of the world.