ADDIS ABABA, Sept. 27 (Xinhua) -- A special ceremony was held Monday in Addis Ababa, Ethiopia's capital, to celebrate the forthcoming 73rd anniversary of the founding of the People's Republic of China (PRC).

The reception ceremony, which was organized in a hybrid format, brought together senior Ethiopian government officials, Chinese diplomats in Ethiopia, representatives from the business community as well as members of academia and scholars. Representatives from Chinese companies, the Chinese Medical Team, and Confucius institutes in Ethiopia attended the ceremony via online video link.

Ethiopia's former President Mulatu Teshome said in a speech that since the founding of the PRC, China has grown into the second largest economy in the world, and people's lives have significantly improved.

"Even against the backdrop of COVID-19 headwind and global economic downturn, China has achieved victory in poverty alleviation with flying colors," the former Ethiopian president said. "The success of China is the success of people known for their industry, wisdom and fortitude; it is the success of a governance and development model that adapts to basic national conditions; it is the success of people-centered, results-oriented and forward-looking leadership."

He further extolled the ever-expanding China-Ethiopia comprehensive, strategic and cooperative partnership as well as the positive contributions of Chinese engagements in Ethiopia.

Ethiopia's Finance Minister Ahmed Shide also echoed Teshome's remarks as he underscored the "transformational positive impact" that the founding of the PRC has played on the betterment of the Chinese people and others around the world.

Chinese ambassador to Ethiopia Zhao Zhiyuan described the Sino-Ethiopia friendship as "an epitome of China-Africa cooperation."

"Looking forward, our bilateral relationship is highly promising with huge potential," Zhao said as he emphasized the two countries' common aspiration of realizing a better life for their respective peoples.

This Saturday will mark the 73rd anniversary of the founding of the PRC.