China will continue to focus on developing the economy. Development is our top priority, as it constitutes the basis for addressing all issues. We will mainly rely on our own efforts in pursuing development. With the progress in China's industrialization and urbanization, hundreds of millions of farmers will move to towns and cities. This will create more domestic demand than ever, open up broad market and development space, and serve as a powerful engine sustaining the growth of the Chinese economy and the world economy at large. We will work hard to transform the economic development pattern, restructure the economy and set out on a path of balanced and sustainable development.
China will continue to deepen institutional reform. We will make consistent effort to improve the socialist market economy. We will unswervingly strengthen and develop the public sector of the economy, and also unswervingly encourage, support and guide the development of the non-public sector. We will pay greater attention to ensuring and improving people's well-being. We will further reform the income distribution system and improve the social security system, including old-age support, medical care and unemployment benefit programs. We will endeavor to narrow the gap between urban and rural areas, between different regions and between the rich and the poor. We want to make sure that each and every citizen shares the benefit of China's reform, opening up and development. While deepening economic restructuring, we will also push forward political restructuring. Otherwise, we cannot achieve the ultimate goal of economic reform and we will lose what we have gained from our modernization drive. We respect and protect human rights, uphold social equity and justice, and strive to achieve the free and all-round development for our people. This is the important hallmark of a democratic country under the rule of law. It is also a basic guarantee for a country's lasting peace and stability.
China will be even more open to the world. Mutually-beneficial cooperation for win-win progress is a long-term strategy that we will stick to in opening up to the world. We will follow established international rules in expanding business ties with other countries. We will continue to improve the environment tor foreign investors, optimize the structure of foreign capital utilization and explore new ways for overseas investment and cooperation. We are committed to promoting the establishment of a fair, equitable, inclusive and well-managed new international financial order and an open and free international trading regime. We are against protectionism in all its manifestations. In the course of modernization, we will not only continue to bring in and utilize advanced achievements from the rest of the world in the economic, scientific and technological fields, but also boldly draw upon the achievements of human civilization in the fields of social management and cultural development.
China will continue to develop education, science and technology. How can China narrow the development gap with the advanced countries and enhance the sustainability of its strong growth? I believe two things are of fundamental importance: first, education and second, science and technology. China has formulated medium-and long-term development programs on education and on science and technology respectively. Going forward, we will focus our efforts on implementing these two programs and build China into a country strong in human resources and innovation by 2020.
China will continue to carry forward its fine culture. The development of a country and rejuvenation of a nation require not only great economic strength, but more importantly great cultural strength. The moral values and wisdom drawn from the 5,000-year Chinese civilization belong not only to China but also to the world. We will vigorously develop cultural programs and accelerate the development of a moral and ethical code that is commensurate with our socialist modernization drive and consistent with the traditional virtues of our nation. We respect the diversity of civilizations and will increase dialogue and exchanges with other civilizations to forge a common cultural bond for humanity. The Chinese nation, who has created an economic miracle, will create a new cultural splendor as well.
The US Congress moved closer to punishing China for allegedly manipulating its currency, as a key committee of the House of Representatives voted to advance legislation that could