BEIJING -- "Only when the granary is full will people learn etiquette; only when people are well-fed and clothed will they know honor and shame." President Xi Jinping quoted the ancient Chinese adage when addressing the High-level Dialogue on Global Development on Friday.

The saying comes from Shiji, or the Records of the Grand Historian, a monumental history book of ancient China compiled about 2,000 years ago.

It highlighted that material conditions of life are the basis for the systems and morality of a society.

In his speech, Xi recounted his experience of being a farmer on the Loess Plateau in the late 1960s, and how development had changed local villagers' life over the years.

Only through continuous development can the people's dream for a better life and social stability be realized, Xi pointed out.