President Xi Jinping delivers a speech at the Tian'anmen Rostrum before the parade marking the 70th anniversary of the end of World War II, Sept 3, 2015. [Photo/Xinhua]

Chinese President Xi Jinping Thursday delivered a speech at the Commemoration of the 70th anniversary of the victory of the Chinese People's War of Resistance against Japanese Aggression and the World Anti-Fascist War. Here are the key points.

Cut troop level by 300,000

China will cut the number of its troops by 300,000, President Xi announced in the speech.

"The People's Liberation Army of China is the people's army. All its officers, men and women must bear in mind their responsibility of serving the people whole-heartedly, faithfully fulfill the sacred duty of protecting the nation's security and people's well-being, and carry out the noble mission of upholding world peace."

"Here, I announce that China will cut the number of its troops by 300,000."

Send message of peace

Xi stressed China will remain committed to peaceful development and will never seek hegemony or expansion.

"China will remain committed to peaceful development. We Chinese love peace. No matter how much stronger it may become, China will never seek hegemony or expansion. It will never inflict its past suffering on any other nation," Xi said.

Xi urged the fostering of "a keen sense of a global community of shared future" in the interest of peace.

"Prejudice, discrimination, hatred and war can only cause disaster and suffering, while mutual respect, equality, peaceful development and common prosperity represent the right path to take," Xi said.

"The experience of war makes people value peace all the more," Xi said.

Never repeat the historical tragedy

Xi said that preventing historical tragedy from happening again is the best way to honor those losing their lives for freedom, justice and peace in the anti-fascist war.

"The best way to honor the heroes who gave their lives to uphold freedom, justice and peace and mourn the loss of innocent lives brutally taken during the war is to make sure that this historical tragedy will never repeat itself," Xi said.

Xi said the world is "far from tranquil" despite the prevailing trend of peace and development.

"War is the sword of Damocles that still hangs over mankind. We must learn the lessons of history and dedicate ourselves to peace," Xi said