BEIJING, June 28 -- Chinese Foreign Minister Wang Yi addressed a luncheon commemorating the 70th anniversary of the Five Principles of Peaceful Coexistence in Beijing on Friday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that President Xi Jinping's important speech at the Conference Marking the 70th Anniversary of the Five Principles of Peaceful Coexistence Friday morning comprehensively elaborated the essence and the values of the times of the Five Principles of Peaceful Coexistence, pointed out the direction of building a community with a shared future for mankind amid the profound changes unseen in a century, and sent out the strong message that the "Global South" will work with people around the world to create a better future.

The speech is of far-reaching significance in drawing on the historical wisdom of the Five Principles of Peaceful Coexistence and pooling consensus and joint efforts to solve the difficult problems and challenges in today's world, Wang added.

"The implementation of the Five Principles of Peaceful Coexistence is an ongoing process with no endpoint, and the building of a community with a shared future for humanity is under way," Wang stressed.

China stands ready to work with other countries to consolidate the foundation of friendly cooperation through mutual respect, build universal security through joint contribution and shared benefits, promote development and prosperity through openness and cooperation, expand the picture of human civilization through inclusiveness and mutual learning, and guide the future of global governance with fairness and justice, Wang said.

All parties spoke highly of China's role as a responsible major country and its contribution to peace and development, and said that the vision of a community with a shared future for humanity proposed by President Xi is a development, innovation and sublimation of the Five Principles of Peaceful Coexistence, and the new measures announced by President Xi to support the "Global South" cooperation will inject strong impetus into the unity and development of developing countries.

The international community should work together to uphold peaceful coexistence and mutual respect, safeguard sovereign equality, fairness and justice, and promote win-win cooperation and inclusive development, they said.