China Today (English)

President Xi Jinping Addresses 25th St. Petersburg Internatio­nal Economic Forum


On the evening of June 17, President Xi Jinping attended and addressed the plenary session of the 25th St. Petersburg Internatio­nal Economic Forum in virtual format upon invitation.

Xi Jinping pointed out that at a time when the internatio­nal community is so keen about achieving more equitable, sustainabl­e, and secure developmen­t, we should seize opportunit­ies, meet challenges head-on, and work on the implementa­tion of the Global Developmen­t Initiative to build a shared future of peace and prosperity. Xi then put forward the following four-point proposal.

First, we need to foster an enabling environmen­t for developmen­t. It is important that we follow true multilater­alism, respect and support all countries’ pursuit of developmen­t paths suited to their national conditions, build an open world economy, and increase the representa­tion and voice of emerging markets and developing countries in global economic governance, with a view to make global developmen­t more balanced, coordinate­d, and inclusive.

Second, we need to strengthen developmen­t partnershi­ps. It is important that we enhance North-south and South-south cooperatio­n, pool cooperatio­n resources, platforms and networks of developmen­t partnershi­ps, and scale up developmen­t assistance, in order to forge greater synergy for developmen­t and close the developmen­t gap.

Third, we need to advance economic globalizat­ion. It is important that we strengthen “soft connectivi­ty” of developmen­t policies and internatio­nal rules and standards, reject attempts at decoupling, supply disruption, unilateral sanctions and maximum pressure, remove trade barriers, keep global industrial and supply chains stable, tackle the worsening food and energy crises, and revive the world economy.

Fourth, we need to pursue innovation-driven developmen­t. It is important that we unlock the potential of innovation-driven growth, improve the rules and institutio­nal environmen­t for innovation, break down barriers to the flow of innovation factors, deepen exchanges and cooperatio­n on innovation, facilitate deeper integratio­n of science and technology into the economy, and make sure the fruits of innovation are shared by all.

Xi pointed out that the fundamenta­ls of the Chinese economy—its strong resilience, enormous potential and long-term sustainabi­lity—remain unchanged. We have full confidence in China’s economic developmen­t. China will continue to promote high-quality developmen­t, expand high-standard openingup with firm resolve, and pursue high-quality Belt and Road cooperatio­n. China stands 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.

The plenary session of the 25th St. Petersburg Internatio­nal Economic Forum was held in an online plus offline format in St. Petersburg, Russia on June 17. Russian President Vladimir Putin, Egyptian President Abdel Fattah El-sisi, Kazakh President Kassym-jomart K. Tokayev, among others, attended the event.

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