President Xi Jinping delivers a speech at a grand gathering to celebrate the 40th anniversary of China's reform and opening-up in Beijing on Tuesday. Here are the highlights:

Reform and opening-up a great revolution

The reform and opening-up is a great revolution in the history of the Chinese people and the Chinese nation, said Xi.

It is the great revolution that propelled a quantum leap forward in the cause of socialism with Chinese characteristics, Xi said.

Xi also said the reform and opening-up is a great reawakening of the Communist Party of China, nurturing great creativity in both theory and practice for the CPC.

Reform, opening-up 'milestone' in Chinese national rejuvenation

Xi called the pursuit of reform and opening-up and socialism with Chinese characteristics a milestone in realizing the Chinese nation's rejuvenation.

The founding of the Communist Party of China and the founding of the People's Republic of China were also the milestones on the way toward the great national rejuvenation in the modern times, Xi said.

They represented three historic events taking place after the May Fourth Movement in 1919, according to Xi.

China keeps improving people's well-being over past 40 years

China has lifted 740 million people out of poverty in the 40 years, reducing the poverty headcount ratio by 94.4 percentage points, Xi said.

The nation has built the world's largest social security system, with the basic old-age pension covering more than 900 million people and medical insurance covering over 1.3 billion people, Xi said.

The ratio of permanent urban residents in total population rose 40.6 percentage points to 58.52 percent during the period, he said.

"The country has maintained its social stability over a long period, making it one of the countries that provide the greatest sense of safety in the world," Xi said.

China has bid farewell to the problems that plagued its people for thousands of years, including hunger, shortage and poverty, Xi said.

China's development promotes world peace, development

China's development over the past 40 years has effectively served the cause of world peace and development, Xi said.

China's development has provided successful experience and offered a bright prospect for other developing countries as they strive for modernization, representing a great contribution of the Chinese nation to the progress of human civilization, Xi said.

Xi underscores Party leadership over all work

Xi stressed the Party's leadership over all work while calling for constantly enhancing and improving the Party's way of leadership.

The reform and opening-up in the past four decades has shown that leadership of the Communist Party of China is the most essential attribute of socialism with Chinese characteristics, and the greatest strength of this system, Xi said.

Xi calls for continuous efforts to deliver on people's aspirations for better life

The people-oriented approach must be adhered to and efforts should be made to keep delivering on the people's aspirations for a better life, Xi said.

The practices over the past 40 years have shown that seeking happiness for the Chinese people and striving for rejuvenation of the Chinese nation is the founding aspiration and mission of the Communist Party of China, and those of the reform and opening-up endeavor, Xi said.

Xi stresses upholding Marxism, advancing theories

Xi called for upholding Marxism as the guiding ideology and exploring theoretical innovations based on practice.

The practices over the past 40 years have shown that innovation is the lifeline of reform and opening-up, Xi said.

Related:

China marks 40 years of reform and opening-up

China held a grand gathering Tuesday to celebrate the 40th anniversary of the country's reform and opening-up, a great revolution that has changed the destiny of the Chinese nation and also influenced the world.

President Xi Jinping and other Chinese leaders attended the event which began at around 10 am at the Great Hall of the People in Beijing.

Reform and opening-up is a great revolution that has changed the destiny of the Chinese nation and also influenced the world.

Xi and other Chinese leaders attended the event which began at around 10 am at the Great Hall of the People in Beijing.

Premier Li Keqiang presided over the meeting.

The celebration started with all participants rising to sing the national anthem.

Wang Huning, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, read a decision to award the personnel who have made outstanding contributions to the country's reform and opening-up.

The people are "the creators of the great wonder of reform and opening-up" and "the source of power" to drive the campaign started 40 years ago, Wang said.

According to the decision made by the CPC Central Committee and the State Council, 100 Chinese were awarded the medals of reform pioneers and 10 foreigners were honored with China reform friendship medals.

Chinese leaders presented the medals to the prize winners.