Chinese vice premier calls for joint efforts to bolster economic globalization

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Chinese Vice Premier Han Zheng, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, delivers a speech titled "Work Together for an Open World Economy and Sustainable Global Development" at the 50th annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 21, 2020. [Photo/Xinhua]

Chinese Vice Premier Han Zheng on Tuesday called on the international community to build an inclusive and open world economy and uphold multilateralism in support of economic globalization.

Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, delivered a speech titled "Work Together for an Open World Economy and Sustainable Global Development" at the 50th annual meeting of the World Economic Forum (WEF).

At the 2017 WEF annual meeting in Davos, Chinese President Xi Jinping delivered a historic speech and expressed firm support for economic globalization, a message that resonated far and wide, Han said.

Han noted that economic globalization is "a trend of history, an essential condition for productivity growth, and a natural result of the advance in science and technology," adding that it is also "a strong driving force behind economic growth across the globe."

To resolve the difficulties and problems in economic globalization, the fundamental solution lies in building an inclusive and open world economy together, and the key lies in upholding multilateralism, Han said.

"Unilateral and protectionist practices, which run counter to the global trend, will lead to nowhere ... and end up hurting everyone's interests," the vice premier said.

Han called on all countries to demonstrate greater courage, stay committed to equal-footed consultation and tide over difficulties together. "We should make economic globalization more open, inclusive, balanced and beneficial for all" so that "people of all countries will be able to share in the benefits of economic globalization and global growth," he said.

He said the global community should "keep to the goal of safeguarding peace, promoting development, upholding equity and justice, and pursuing mutual benefit and win-win outcomes," calling for joint efforts "to tackle global challenges such as poverty reduction, climate change and environmental protection."

"We should abide by the international law and widely recognized norms of international relations ... and advance the improvement and transformation of the global governance system," he said.

China has embraced economic globalization, pursued development with its door open, and succeeded in transforming a closed and semi-closed economy into a fully open economy, Han noted, adding that "openness has become a trademark of today's China."

China has developed itself through opening-up and participation in economic globalization, and the world has also benefited from this process, he said.

The vice premier pledged that his country will open its door still wider to the world. "Despite the protectionist and unilateral moves by some countries, China will not stop pursuing higher-quality opening-up, and will not follow their footsteps to move in the opposite direction of globalization," he said.

Han stressed that China will further widen market access for foreign investors and cut negative list for foreign investment, import more goods and services to promote balanced trade, and further improve China's business environment to let all types of businesses registered in China be treated equally.

China will also foster new drivers of opening-up, allowing free trade zones to initiate more reforms and speeding up the building of the Hainan Free Trade Port, he said, adding that China will further deepen multilateral and bilateral cooperation and work with other countries to build an open world economy.

Standing at a new historical starting point, China will, as always, actively shoulder its due international responsibilities and obligations, Han noted.

He pledged that China "will maintain stability and pursue development while contributing to peace and prosperity in the world," and "work with people of all countries to build an open, inclusive, clean and beautiful world that enjoys lasting peace, universal security and common prosperity" so as to make greater contribution to building a community with a shared future for mankind.

During his stay in Davos, Han also attended a luncheon hosted by WEF Executive Chairman Klaus Schwab, and exchanged views with business leaders including Apple CEO Tim Cook and Siemens AG President Joe Kaeser.

The industry and business leaders said they are full of expectations for China's deepening reform and further opening-up, and are willing to expand trade and technological cooperation with China for mutual benefit.

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