Beijing, 20 May 2022 (TDI): China’s President Xi Jinping delivered a video address at the CCPIT 70th Anniversary Conference and Global Trade and Investment Promotion Summit on May 18.

President Xi stated that the CCPIT was established in 1952 as a China-based institution with a global outlook. It has been instrumental in creating a bond of benefit between Chinese and foreign businesses. CCPIT enhances international economic and trade interactions and facilitates state-to-state relations.

The CCPIT’s 70-year journey has been a symbol of China’s ever-expanding efforts to open up. It is also an essential testimony to how firms from various countries may share development prospects and profit from win-win cooperation.

President Xi stated that economic globalization is encountering a headwind. The globe is entering a new phase of turbulence and transformation, with the world confronting pandemics and extreme changes.

Business communities all across the world are yearning for it now more than ever. Global business organizations seek peace and growth, demand equality and fairness, and strive for win-win relations.

President Xi recommended that measures be made on the four major fronts.

To begin, he recommended that the world must unite to destroy COVID-19. The unchecked pandemic poses a serious threat to everyone’s lives and health.

Second, commerce and investment must be revitalized. A balance between pandemic management and economic growth must be maintained.

He also emphasized improvement in cross-country sound macroeconomic cooperation, an effort to advance the UN’s 2030 Agenda for Sustainable Development and assist the world’s economy in upgrading its factors influencing the growth.

Third, he talked about harnessing the force of innovation to propel progress forward. He said science and technology are more integrated with economic growth and must be promoted.

Fourth, global governance must be improved, To solve global challenges and progress global development, everyone must defend true multilateralism, adopt a global governance vision that includes wide consultation, collaborative participation, and shared benefits, and mobilize resources from throughout the world.

He emphasized the adoption of policies that involve dialogue, integration, and inclusion. Global governance reforms must be based on the idea of fairness and justice, concluded Xi.

President Xi emphasised that China’s commitment to open up to a high standard will not alter, and that China’s door to the world will continue to open wider. China will continue to promote a business climate that is founded on market principles, guided by law, and meets international standards.

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