Chinese President Xi Jinping has expressed unwavering confidence in achieving this year's economic growth targets, reaffirming China's position as the world's leading engine of economic growth. Speaking in Beijing, Xi met with leaders of major international economic organizations to discuss collaborative strategies in an era marked by global turbulence and significant changes.
Highlighting the challenges of our current global landscape, Xi emphasized China's readiness to work alongside international economic entities to foster multilateralism, enhance international cooperation, support the development of nations in the global South, and promote a balanced, multipolar world. He underscored the importance of economic globalization that benefits all nations and contributes to a just, collectively developed world.
Leaders from the New Development Bank, World Bank, World Trade Organization, and International Monetary Fund lauded China's economic achievements and expressed optimism about its future prospects. They also conveyed appreciation for China's long-term support of their organizations' initiatives.
In the face of rising unilateralism and protectionism, these international leaders expressed their willingness to collaborate closely with China, uphold the principles of multilateralism, and advocate for free trade and economic globalization. Together, they aim to contribute further to global development and prosperity, creating a shared future for all of humanity.
Xi noted that economies worldwide are grappling with their own set of challenges. He advocated for a collaborative approach to building an open global economy, driven by innovation and seizing opportunities in the digital economy, artificial intelligence, and low-carbon technologies. By doing so, new sources of economic growth can be created, supporting cross-border flows of knowledge, technology, and human resources.
After over four decades of sustained and rapid development, China's economy has transitioned into a phase of high-quality growth, contributing approximately 30 percent to global economic expansion. Xi emphasized China's commitment to maintaining an open and inclusive development strategy, continuing to integrate with high-standard international economic and trade frameworks, and establishing a market-oriented, law-based, world-class business environment.
Looking ahead, Xi welcomed continued participation of international economic organizations in China’s Belt and Road Initiative, aiming for modernization through peaceful development, mutually beneficial cooperation, and common prosperity. He also expressed hope for the United States to engage constructively with China to steer bilateral relations towards stability, health, and sustainability, rejecting the notions of tariff wars, trade wars, and sci-tech wars as contrary to historical trends and economic principles.
Reference(s):
Xi: China continues to be 'biggest engine' of world economic growth
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