Editor's note: This podcast series explains how China works. It features key excerpts from Xi Jinping's speech at an event on July 1 to celebrate the centenary of the Communist Party of China. In the speech, Xi looked back on the lessons of history and explored the Party's role in China's journey to becoming a moderately prosperous society.

On this special occasion, it is my honor to declare on behalf of the Party and the people that through the continued efforts of the whole Party and the entire nation, we have realized the first centenary goal of building a moderately prosperous society in all respects. This means that we have brought about a historic resolution to the problem of absolute poverty in China, and we are now marching in confident strides toward the second centenary goal of building China into a great modern socialist country in all respects. This is a great and glorious accomplishment for the Chinese nation, for the Chinese people, and for the Communist Party of China!

(Source: Extract from Xi Jinping's speech at a ceremony marking the centenary of the Communist Party of China, July 1, 2021.)  

This episode is presented Zhong Qiu.