Vice Premier Ding Xuexiang at the World Economic Forum in Davos: Calling for multilateralism and inclusive development

At the World Economic Forum (WEF) in Davos, Chinese Vice Premier Ding Xuexiang called for international cooperation, openness and inclusive development. In his speech, he stressed the need to maintain multilateralism and promote joint solutions to global challenges.

According to Ding, the world is undergoing unprecedented change and global governance is facing a profound transformation. "Humanity is at another crossroads. We should maintain trust, promote solidarity and cooperation, and move forward together, despite all winds and waves, to build a community with a shared future for humanity," Ding said.

Four key recommendations to support globalisation

Ding presented four main recommendations for promoting globalisation:

1. Promoting inclusive economic globalisation
   Ding called for mutually beneficial solutions and a fairer distribution of wealth to make globalisation work for everyone.
2. Real multilateralism
   He stressed the need to maintain the international system under the leadership of the UN and to promote equal rights, opportunities and rules for all countries.
3. Promoting digital development and scientific and technological cooperation
   The international community should encourage innovation and ensure that scientific and technological advances benefit all of humanity.
4. Tackling global challenges together
   Ding called for cooperation on climate change, food and energy security and support for initiatives such as the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative.

Three major trends in the Chinese economy

Ding also focused on three key trends shaping the Chinese economy:

1. High quality development
   China is making steady progress in the transition from traditional growth drivers to new ones, encouraging innovation and the development of future industries. In 2025, it will focus on more active fiscal policy and appropriately loose monetary policy.
2. Accelerated Green Transformation
   China is a world leader in renewable energy and will maintain its ambition to reduce carbon emissions, fight pollution and promote growth through green transformation.
3. Deepening reforms and openness
   China will continue to build a market economy, improve the business environment and open its economy to foreign investors.

Ding concluded by saying that China will continue to welcome foreign companies to invest and share the opportunities of China's growing economy.

CMG