BEIJING, Dec. 31 (Xinhua) -- In a New Year's address broadcast on Saturday, Chinese President Hu Jintao vowed that China will continue to develop friendly exchanges with other countries and positively participate in international cooperation on global issues. 

While addressing domestic and overseas audiences via state TV and radio broadcasters, Hu urged the acceleration of the transformation of the country's economic development pattern and structural adjustments while making more efforts in ensuring people's livelihood.

The country will continue to balance maintaining steady and relatively fast economic growth with adjusting its economic structures and managing inflation expectations, he said in the speech titled "Jointly Improve World Peace and Development," which was broadcast by China Radio International, China National Radio and China Central Television.

China will stick to the guidelines of "one country, two systems," "Hong Kong people governing Hong Kong," "Macao people governing Macao," and a high degree of autonomy in maintaining the long-term prosperity and stability of Hong Kong and Macao, Hu said.

"We will adhere to the principles of 'peaceful reunification' and 'one country, two systems,' continue to push forward the peaceful development of cross-Strait relations, ensure the basic benefits for those of the Chinese nationality, and endlessly work for the common benefit of the compatriots on both sides of the Taiwan Strait," he said.

2011 was the first year of the country's 12th Five-Year Plan period (2011-2015). In the face of complicated international situations and arduous tasks in maintaining domestic reform, development and stability, Chinese people united and continued to push forward the opening up and reform drive and the socialist modernization construction, while maintaining steady and relatively fast economic growth and making progress in building a well-off society in an all-around way, he said.

China was also actively engaged in international cooperation to boost the growth of the global economy and financial stability, and it was involved in resolving international and regional issues, he said.

The world is currently witnessing multipolarization and globalization, and various countries are increasingly interdependent, Hu said.

"However, the instability and uncertainty of the world economic recovery is on the rise, international and regional hot-topic issues have cropped up one after another, and the peace and development of the world faces unprecedented opportunities and challenges," Hu said.

China will stick to peace, development and cooperation, adhere to independent foreign policy, maintain world peace and promote common development, Hu said.

The country will stick to the principle of mutual benefit when opening itself up, he said.

"We will develop friendly cooperations with all countries on the basis of the five principles of peaceful co-existence, and we will continue to actively participate in international cooperation on global issues," Hu said.

"I believe that as long as people from all countries make efforts hand-in-hand, the world will have a better future and the welfare of the people of all countries will improve," Hu said.

An article by Hu on boosting the country's cultural development will be published in Qiu Shi (Seeking Truth), an official magazine of the Communist Party of China Central Committee, on Jan. 1.