Dur­ing

China Daily (USA) - - G20 2016 CHINA -

his speech, Pres­i­dent Xi stressed the im­por­tance of the link be­tween busi­ness and so­cial de­vel­op­ment and how China has re­al­ized rapid poverty re­duc­tion.

China is on its way to be­com­ing the world’s largest econ­omy and play­ing a greater role in the global po­lit­i­cal econ­omy, in­de­pen­dent from the ex­ist­ing mul­ti­lat­eral in­sti­tu­tions and in con­trast with the TPP and TTIP, the two trad­ing ar­range­ments ini­ti­ated by the US.

The es­tab­lish­ment of the AIIB and the am­bi­tious strate­gic Belt and Road Ini­tia­tive are ex­am­ples of this new role that will give a boost to China as a global power.

Xi Jin­ping’s speech at Busi­ness 20 on Satur­day in­te­grates tra­di­tional Chi­nese, which high­lights amity, sin­cer­ity, mu­tual ben­e­fit and in­clu­sive­ness, into the re­form of global gov­er­nance. It also in­tro­duces the Chi­nese per­cep­tion of in­no­va­tive, co­or­di­nated, green, open and shared de­vel­op­ment onto the world stage, thus pro­vid­ing a new way of think­ing for the world to build a com­mu­nity of shared des­tiny. It is our hope that the G20 Sum­mit in Hangzhou will reach con­sen­suses and agree on more ac­tions for global eco­nomic gov­er­nance.

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