China keeps improving people's well-being over past 40 years: Xi

President Xi Jinping said Tuesday that the country has kept improving the people's lives and well-being over the past 40 years.

Xi made the remarks at a gathering celebrating the 40th anniversary of the reform and opening-up.

China has lifted 740 million people out of poverty in the 40 years, reducing the poverty headcount ratio by 94.4 percentage points, Xi said.

The nation has built the world's largest social security system, with the basic old-age pension covering more than 900 million people and medical insurance covering over 1.3 billion people, Xi said.

The ratio of permanent urban residents in total population rose 40.6 percentage points to 58.52 percent during the period, he said.

"The country has maintained its social stability over a long period, making it one of the countries that provide the greatest sense of safety in the world," Xi said.

China has bid farewell to the problems that plagued its people for thousands of years, including hunger, shortage and poverty, Xi said.