BANDAR SERI BEGAWAN -- China's development has not only profoundly changed the country but also greatly influenced the whole world, Chinese Ambassador to Brunei Yang Jian said on Saturday evening.

Delivering her speech at a reception celebrating the 69th anniversary of the founding of the People's Republic of China, Yang Jian said that over the last four decades, China has undergone tremendous transformation.

"Today, China has grown into the world's second largest economy, the largest industrial producer, the largest trader of goods, and the holder of the largest foreign exchange reserves. The Chinese people have emerged from a life of shortages and poverty and are now enjoying abundant supply and a moderately prosperous life."

Yang hailed the development of the Belt and Road Initiative. This year marks the 5th anniversary of the initiative.

On the strategic cooperative relationship between China and Brunei, the ambassador said that bilateral relations between China and Brunei "is going on very well".