Chinese President Xi Jinping delivered a keynote speech via video at the opening ceremony of Boao Forum for Asia in south China's Hainan Province on Thursday. He proposed a Global Security Initiative, saying that security is precondition for development. He said the Cold War mentality would only wreck the framework of peace, and that seeking hegemony and power politics would only endanger world peace. Wang Dan, chief economist of Hang Seng Bank China, shares her insights on the significance of the initiative.