Chinese top legislator Li Peng reiterated Thursday that China firmly opposes hegemonism and power politics and will never seek hegemony.

"This is a solemn commitment of the Chinese government and people to the world," said Li Peng, Chairman of the Standing Committee of the National People's Congress (NPC) of China.

Li, in an address at the special meeting of the South African National Assembly and the National Council of Provinces, said China, as a staunch force for world peace and common development, will always stand by developing countries and all the other peace-loving nations and peoples.

"China has all along pursued an independent foreign policy of peace and developed friendly relations and cooperation with all countries in the world on the basis of the five principles of peaceful coexistence," he said.

China, he said, conducts economic exchanges and cooperation with the rest of the world on the basis of equality and mutual benefit.

"To open up to the outside is one of China's basic state policies," he said, adding that China, engaged in a large-scaled modernization drive, needs to draw on and introduce advanced technologies, equipment and managerial expertise of other countries.

China attaches great importance to legislation on economic and trade matters, and will continue to protect the legitimate rights and interests of foreign-invested enterprises in strict accordance with the law and create a good climate to develop foreign trade and attract foreign investment, he said.

On China's efforts to join the World Trade Organization (WTO), Li said China has adopted a positive attitude on its accession to the organization and has made unremitting efforts to this end for 13 years.

The Chinese economy is closely inter-related with the world economy, Li said.

He said the agreement reached by China and the United States three days ago on China's WTO membership was of great significance.

This "will help speed up China's accession process, improve and develop the relations between China and the US and contribute to global prosperity", he said.

Li arrived in South Africa on Wednesday on a six-day visit to South Africa, the second leg of his six-nation Afro-Asian tour that will also take him to Kenya, Israel, Palestine and Oman. He has already visited Mauritius. (Xinhua)