Hu Jintao said on Thursday that China must unswervingly follow the path of socialism with Chinese characteristics in order to complete the building of a moderately prosperous society in all respects, accelerate socialist modernization, and achieve the great renewal of the Chinese nation.

Delivering a keynote report to the 18th National Congress of the Communist Party of China (CPC), Hu said this is a definite conclusion drawn from China's eventful modern history and a promising future of the Chinese nation.

"The issue of what path we take is of vital importance for the survival of the Party, the future of China, the destiny of the Chinese nation, and the wellbeing of the people," he said.

He said over the past 90-plus years, relying firmly on the people and adapting the basic tenets of Marxism to China's conditions and the underlying trend of the times, the CPC has pursued its own course independently.

The CPC has, enduring untold hardships and sufferings and paying various costs, achieved great success in revolution, development and reform, and created and developed socialism with Chinese characteristics, thus fundamentally changing the future and destiny of the Chinese people and nation, Hu said.

Hu underlined endeavors by the past three generations of central collective leadership led by Mao Zedong, Deng Xiaoping and Jiang Zemin, respectively, and highlighted the development path China has experienced under the three generations of leadership and the formation of the theories of socialism with Chinese characteristics.

He also highlighted how the CPC Central Committee upheld and developed socialism with Chinese characteristics from a new historical starting point in the new century.

"Throughout the past 30-plus years of continuous exploration for reform and opening up, we have held high the great banner of socialism with Chinese characteristics and rejected both the old and rigid closed-door policy and any attempt to abandon socialism and take an erroneous path," he stressed.

He said the path of socialism with Chinese characteristics, the system of theories of socialism with Chinese characteristics and the socialist system with Chinese characteristics are the fundamental accomplishments made by the Party and people in the course of arduous struggle over the past 90-plus years.

"We must cherish these accomplishments, uphold them all the time and continue to enrich them," he said.

He said taking the path of socialism with Chinese characteristics means it is a must to take economic development as the central task and adhere to the Four Cardinal Principles and the policy of reform and opening up.

It is a must to release and develop the productive forces, develop the socialist market economy, socialist democracy, an advanced socialist culture and a harmonious socialist society, and promote socialist ecological progress, he said.

"In building socialism with Chinese characteristics, we base ourselves on the basic reality that China is in the primary stage of socialism. Our overall approach is to promote economic, political, cultural, social, and ecological progress, and our general task is to achieve socialist modernization and the great renewal of the Chinese nation."

To achieve new victory, Hu said it is a must to have a firm grasp of the following basic requirements: maintaining the people's principal position in the country; continuing to release and develop the productive forces; persevering in reform and opening up; safeguarding social fairness and justice; striving for common prosperity; promoting social harmony; pursuing peaceful development; and upholding the leadership of the Party.

Hu said the Party must be soberly aware that China is still in the primary stage of socialism and will long remain so. This basic condition of China has not changed; nor has the principal problem in the society; nor has China's international position as the largest developing country in the world."

"As long as we remain true to our ideal, are firm in our conviction, never vacillate in or relax our efforts or act recklessly, and forge ahead with tenacity and resolve, we will surely complete the building of a moderately prosperous society in all respects when the CPC celebrates its centenary and turn China into a modern socialist country that is prosperous, strong, democratic, culturally advanced and harmonious when the People's Republic of China marks its centennial," he said.

"The whole Party should have every confidence in our path, in our theories and in our system," he said.