 Ladies and gentlemen, the President of the United States and Mrs. Reagan. Ladies and gentlemen, the national anthems of the People's Republic of China and the United States of America. It is my pleasure today to welcome you, President Lee. This is your first trip to the United States and the first visit by a Chinese head of state to our country. It's a great honor to have you, your wife, and the distinguished delegation who accompanied you as our guests. During my visit to China last year, I had the opportunity to get to know President Lee. Under the guidance of President Lee and otherwise leaders, the Chinese people are enjoying greater productivity and a rising standard of living. American people are working with them as friends and partners in enterprise. Trade between us is at a record level and continues to climb. Scientific and technological cooperation is being put to use in a wide range of endeavors. And this, too, can be expected to increase. Our educational and cultural exchanges, already substantial, are expanding. We're in the initial phases of cooperation in the control of narcotics and anti-terrorism. And by our common opposition to aggression, we are not only enhancing our mutual security, but bolstering world peace as well. Both our peoples should be proud that in a few short years, a solid foundation of goodwill has been laid. There is an increasingly productive relationship based not on personality or momentary concerns, but on a recognition that our nations share significant common interests and an understanding of the many benefits we reap from the goodwill between us. Now, this doesn't mean that there are no areas of disagreement. However, we will continue to put any differences in perspective. And I met with you, President Li, in the Great Hall of Beijing. I suggested a Chinese principle that can serve as a tool in building an ever-stronger bond between us. Hu Jing, Hu Huay. Mutual respect, mutual benefit. Let us proceed in that spirit. Hu Jing, Hu Huay. As leaders of great nations, we should expect nothing more and accept nothing less. President Li, we Americans highly value the ties we have built with the people of China in these last 13 years. We rejoice with you over the economic success your country is enjoying and are pleased to be playing a small part in this modernization effort. We wish for the people of China what we wish for ourselves, to live in peace and to enjoy prosperity. By working together, the people of both our countries can achieve this noble goal. We're pleased to have you with us. On behalf of the people of the United States, I say, Huanying, welcome. Mr. President and Mrs. Reagan, ladies and gentlemen, as the kind invitation of President Reagan, I've come to pay a visit to a great country. On behalf of the Chinese government and the people, I wish to extend our heartfelt thanks and the best wishes to the American government and the people. Mr. President, I'm very happy to see that you are recovering so fast and I'm deeply touched by your participation in this welcoming ceremony. The purpose of my current visit is to deepen mutual understanding, enhance our bilateral relations, increase the friendship between our two peoples, and safeguard world peace. I believe this purpose is in conformity with the interests and desire of our two peoples. Both China and the United States are great countries and both our peoples great peoples. I'm convinced that if China and the United States can establish a long-term and stable relationship of friendship and cooperation on the basis of the five principles of peaceful coexistence, it will greatly benefit our two peoples and world peace. In the past two centuries or more, the Sino-U.S. relations went through a tortuous road with both exciting moments of joy and the painful periods that provoked thought. It is gratifying to note that since 1972, leaders of the two countries, judging the hour and sizing up the situation, have cooperated to lay down principles guiding bilateral relations and reached a number of agreements that provide the foundation for the establishment of a long-term and stable relationship of friendship. The Sino-U.S. relations have made fairly big progress. A dozen years ago, very few people could foresee the present level of development in our bilateral relations. However, I wish to point it out that in our relations, there are even today great potentials to be tapped and obstacles and difficulties to be overcome. The new situation demands our fresh efforts and new achievements. I hope that, a dozen years hence, when we look back, we should be able to feel and be gratified as we do today, that as we proceed, difficulties are increasingly reduced and our steps will grow more vigorous. Thank you.