Home News Xi Jinping spoke at the 25th St. Petersburg International Economic Forum

Xi Jinping spoke at the 25th St. Petersburg International Economic Forum

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In his speech, Xi Jinping noted that now unprecedented changes have been superimposed on each other in a century: a pandemic, a reverse course of the economic agenda. The UN’s 2030 Sustainable Development Goals are facing unprecedented challenges.

The international community, continued the President of the People’s Republic of China, persistently strives for a more equitable, sustainable and secure development. “We must face the challenges, promote the practical implementation of the Global Development Initiative, and jointly create a beautiful future of world peace and prosperity,” the Chinese President said.

In his opinion, it is necessary, firstly, to create a favorable environment for development. Xi Jinping called for practicing true multilateralism, respecting and supporting all countries in choosing strategies that suit their national circumstances, building an open world economy, strengthening the representation and voting rights of emerging markets, and promoting balanced, coordinated and inclusive global development.

Secondly, it is necessary to intensify partnerships. The Chinese President pointed to the importance of North-South and South-South cooperation, pooling resources and cooperation platforms, and increasing development assistance.

Thirdly, it is important to promote the process of economic globalization. According to Xi Jinping, the interconnection of international rules and standards should be strengthened, and the practice of severing ties, cutting off supplies, unilateral sanctions and maximum pressure should be abandoned. It is also necessary to remove trade barriers, maintain the stability of global value chains, join forces to deal with the worsening food and energy crises every day, and work towards the recovery of the global economy.

Fourth, it is important to pursue development through innovation. Xi Jinping called for unleashing the potential of innovative growth, improving the rules and institutional environment for new solutions, removing barriers to the movement of innovative factors, deepening cooperation, promoting the integration of science and technology with the economy, and sharing the results of innovation.

Xi Jinping stressed that the strong strength, rich potential and long-term positive dynamics of the Chinese economy have not changed at their core. “We are full of confidence in China’s economic development,” he said. China will continue to expand openness and promote the collective construction of the Belt and Road, the Chinese leader assured. China is ready, together with all countries of the world, including Russia, to contribute to deepening global cooperation and building a community with a common destiny for mankind.

The plenary session of the 25th St. Petersburg International Economic Forum was held in St. Petersburg in online and offline formats. The meeting was attended by Russian President Vladimir Putin, Egyptian President Abdel Fattah el-Sisi and Kazakh President Kassym-Jomart Tokayev.

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