Today Chinese leaders will gather to celebrate the 40th anniversary of the country's reform and opening. Follow this space for live updates, and follow our Twitter accounts for breaking news: @Caixin and @CaixinLive.

You can stream the event here.

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12:15 p.m.

Xi's speech, and the ceremony for the 40th anniversary of reform and opening, have concluded.

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11:59 a.m.

Xi: "We must support an open, transparent, inclusive and non-discriminatory multilateral trading system. We will focus on building the Belt and Road ... And no matter how much China develops, it will never seek hegemony."

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11:40 a.m.

Rejecting foreign interference in China’s development, Xi said China must hold its destiny in its own hands with its own standards.

“There is no such preacher who can order the Chinese people around,” he said. “For things that need to be changed and can be changed, we will resolutely change them. For those that should not or cannot be changed, we definitely won’t change them.”

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11:20 a.m.

Xi says China has upheld the "norms of international relations."

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Xi on the anti-corruption campaign: "No tolerance has been shown in the crackdown. The fight against corruption has achieved overwhelming victory."

11:12 a.m.

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Xi: China's GDP has grown 9.5% on average over the past four decades, outpacing the global rate of around 2.9%.

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Xi says China's long-term social stability has made it one of the world's safest countries in the world.

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Above: Basketball legend Yao Ming reads along while Xi delivers his speech.

11:03 a.m.

Xi reaffirms that China will let the market play a "decisive role" in resource allocation for the economy.

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View of the large number of attendees at the Great Hall of the People.

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10:48 a.m.

Xi quotes Deng: "If we don't make reforms now, our course to modernization will be doomed."

10:20 a.m.

Politburo Standing Committee member Wang Huning announced awards for personnel who've made "outstanding contributions to the country's reform and opening-up."

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Above: President Xi and Premier Li hand awards to individuals who have made "outstanding contributions" to China's reform and opening-up.

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The song played during the awards portion was "The Story of Spring" (春天的故事), a patriotic song about Deng Xiaoping, the father of China's reform and opening-up.

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