China stresses need to advance economic globalization amid global crisis

“We have full confidence in China economic development,” Xi said.China will continue to promote high-quality development, expand high-level opening up with firm resolve, and pursue high-quality Belt and Road cooperation. »

More equitable and sustainable global development

Noting that the international community is eager to achieve more equitable, sustainable and secure development, Xi said it is important to seize opportunities, meet challenges head-on and work to implement the ‘Global Development Initiative to build a shared future of peace and peace. prosperity.

The Chinese president proposed the Global Development Initiative in his address to the 76th session of the United Nations General Assembly via video link in September last year. The plan charts a course for international development.

It is important for all countries to strengthen the “soft connectivity” of development policies and international rules and norms, Xi told forum participants.

Attempts at decoupling, supply disruption, unilateral sanctions and maximum pressure must be rejected and trade barriers removed in order to maintain the stability of global industrial and supply chains, combat worsening food crises and energy and revive the global economy, he said.

It is important to follow true multilateralism and to respect and support all countries’ pursuit of development paths suited to their national conditions, he said, adding that it is also important to build an open global economy. and to increase the representation and voice of emerging markets and developing countries in global economic governance.

He also called on countries to pursue innovation-driven development, stressing the importance of unlocking the potential of innovation-driven growth, improving the rules and institutional environment for innovation and removing obstacles to the circulation of innovation factors.

Xi called for efforts to deepen innovation exchanges and cooperation, facilitate deeper integration of science and technology into the economy, and ensure that the fruits of innovation are shared. by all.

China continue to promote quality development

The Chinese president stressed that the fundamentals of the Chinese economy – strong resilience, huge potential and long-term sustainability – remain unchanged.

As one of the first countries to resume work and production, the country became the only major economy to record positive growth in 2020, with its GDP exceeding 114.4 trillion yuan (on $18.1 trillion) in 2021.

A recent report published by the American Chamber of Commerce in south china indicated that more than 70% of companies assessed have plans for reinvestment in China for 2022, and 58% consider that their overall return on investment China be higher than elsewhere.

China is ready to work with Russia and all other countries to explore development prospects, share growth opportunities and make new contributions to deepening global development cooperation and building a community with a shared future for mankind, said Mr Xi.

https://news.cgtn.com/news/2022-06-17/Xi-addresses-25th-St-Petersburg-International-Economic-Forum-1aWGtfC4wN2/index.html

SOURCECGTN

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