Editor's note: This podcast series explains how China works. It features key excerpts from Xi Jinping's speech on July 1, 2021 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.

We must uphold and develop socialism with Chinese characteristics. We must follow our own path – this is the bedrock that underpins all the theories and practices of our Party. More than that, it is the historical conclusion our Party has drawn from its struggles over the past century. Socialism with Chinese characteristics is a fundamental achievement of the Party and the people, forged through innumerable hardships and great sacrifices, and it is the right path for us to achieve national rejuvenation. As we have upheld and developed socialism with Chinese characteristics and driven coordinated progress in material, political, cultural-ethical, social, and ecological terms, we have pioneered a new and uniquely Chinese path to modernization, and created a new model for human advancement.

On the journey ahead, we must adhere to the Party's basic theory, line, and policy, and implement the five-sphere integrated plan and the four-pronged comprehensive strategy. We must deepen reform and opening up across the board, ground our work in this new stage of development, fully and faithfully apply the new development philosophy, and foster a new pattern of development. We must promote high-quality development and build up our country's strength in science and technology. We must ensure it is our people who run the country, continue to govern based on the rule of law, and uphold the core socialist values. We must ensure and enhance public well-being in the course of development, promote harmony between humanity and nature, and take well-coordinated steps toward making our people prosperous, our nation strong, and our country beautiful.

The Chinese nation has fostered a splendid civilization over more than 5,000 years of history. The Party has also acquired a wealth of experience through its endeavors over the past 100 years and during more than 70 years of governance. At the same time, we are also eager to learn what lessons we can from the achievements of other cultures, and welcome helpful suggestions and constructive criticism. We will not, however, accept sanctimonious preaching from those who feel they have the right to lecture us. The Party and the Chinese people will keep moving confidently forward in broad strides along the path that we have chosen for ourselves, and we will make sure the destiny of China's development and progress remains firmly in our own hands.

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

This episode is presented by Luo Laiming.