PHNOM PENH, Sept. 28 (Xinhua) -- Cambodian Deputy Prime Minister Hor Namhong said on Thursday that China's success and development has made great contribution to the stability and development of economies around the world.

He made the remarks here during a reception marking the 68th anniversary of the founding of the People's Republic of China.

"During the past 68 years, China, under the leadership of the Communist Party of China and the Chinese government, has made a lot of achievements in various fields, growing into the second largest economy in the world," Namhong said.

He said the Belt and Road Initiative proposed by China has greatly promoted the development in such fields as infrastructure, cultural exchanges, investment, and trade, and helped to realize an all-win situation among countries across Asia, Europe and Africa.

Regarding the Sino-Cambodian relationship, the deputy prime minister said that in recent years, there have been frequent exchanges of high level visits between the two countries, pushing the bilateral relations to a historical new height.

Chinese Ambassador to Cambodia Xiong Bo said 2017 is a crucial year for China to build on past achievements and to open up the future.

He added that 2018 will mark the 60th anniversary of the establishment of diplomatic relations between China and Cambodia, which deserves grand commemoration from both sides.

He said China is committed to working closely with Cambodia to push the China-Cambodia Comprehensive Strategic Partnership of Cooperation to a new high.

The People's Republic of China was founded on Oct. 1, 1949.