Hu's New Year speech, "Jointly Create a Beautiful Future of World Peace and Development," was broadcast on state radio and TV outlets, Xinhua, the official government news agency, reported.
"People's life continued to improve and the society was kept harmonious and stable," Hu said.
The president said 2010 is the final year of China's 11th five-year plan and promised to continue the fiscal policies that have brought it growth. He said the government will also maintain the policy of "one country two systems," with Hong Kong and Macao continuing to have a high degree of autonomy and Beijing maintaining a peaceful relationship with Taiwan.
"I'd like to solemnly reiterate that China will hold high the flag of peace, development and cooperation and firmly adhere to the foreign policy of maintaining world peace and promoting common development," Hu said.