President Xi Jinping emphasized in his address at the World Economic Forum Virtual Event of the Davos Agenda; “China will continue to implement a win-win strategy of opening-up.”

It serves no one’s interest to use the pandemic as an excuse to reverse globalization and go for seclusion and decoupling, China is committed to following through on its fundamental policy of opening-up.

China will continue to promote trade and investment liberalization and facilitation, help keep the global industrial and supply chains smooth and stable, and advance high-quality Belt & Road Cooperation.

We will foster a business environment that is based on market principles, government by law and up to international standards, and unleash the potential of the huge China market and enormous domestic demand.

We hope these efforts will bring more cooperation opportunities to other countries and give further impetus to global economic recovery and growth.

In the context of the COVID-19 pandemic and the unprecedented changes, President Xi’s speech once again offers China’s solution to and actions on the global challenges, highlighting China’s adherence to mutual benefit and global development.

It further demonstrates China’s commitment to humanity’s future development and building a brighter future for mankind.

Implementing a Win-Win Strategy

Implementing a win-win strategy of opening-up conforms to the historical logic of social progress. Any country must advance following the trend of times. Economic and social development are increasingly interconnected.

Promoting openness and interconnectivity, and strengthening mutually beneficial cooperation have become an inevitable choice for common development. The history of international economic and trade development not only shows that no country can solve the problems in world economic development alone.

If countries reduce barriers and expand opening-up, international economy and trade will boom. Only by adhering to policies oriented at greater openness, improving multilateral and bilateral cooperation with an open mind, and promoting coordination, interconnectivity between economies can countries around the world be able to establish and improve global mechanisms of cooperation and sharing, and jointly build an open world economy.

Although currently challenges are emerging one after another, especially with the impacts of the COVID-19 pandemic, the world economy has fallen into deep recession, countries will never go back to isolation and separation.

Opening-up and cooperation is the trend of our times, and mutual benefit and win-win results are the common goal of all countries.

Inherent Requirement for Deepening Economic Globalization

Economic globalization is an objective requirement of developing the social productive forces and the inevitable result of scientific and technological progress.

Economic globalization has provided a strong impetus for world economic growth and international economic cooperation, promoted rapid development of science and technology, enhanced exchanges among different cultures. Countries are more interconnected and interdependent than ever before.

In the past period, the continuous growth of the world economy, the new technological revolution and global economic innovation, and the level of social development all have showed the positive impacts of economic globalization. However, challenges and risks never disappear.

At present, humanity is at a new crossroads, and global development is facing many new challenges. Protectionism, unilateralism, isolationism, and anti-globalization continue to rise. Some countries simply blame economic globalization for the problems of the world and engage in trade and investment protectionism, dragging the world economy back to the old days of isolation. These actions are not in the interests of any countries, but also harm human development.

Facing the global risks and challenges, the only option for all countries is to implement mutually beneficial cooperation and push for economic globalization that is more open, inclusive, balanced and benefits all.

Only Way to Create a Better Future for Mankind

The key to the win-win strategy of opening up lies in the mutually beneficial nature of exchanges between countries. The goal is to achieve a win-win situation and the prosperity of the global economy for all.

International cooperation is based on the pursuit of common interests. Under the win-win strategy of opening up, China will pay more attention to the long-term interests and international common interests, and also will put more emphasis on both the domestic and international markets. China will share development opportunities and benefits with all countries, promoting common prosperity and development, and expanding the interests of all parties.

Implementing the win-win strategy of opening-up includes upholding the concept of building a community with a shared future for mankind, strengthening macroeconomic policy coordination, building an open world economy, safeguarding multilateral trade mechanisms, and jointly promoting strong, sustainable, balanced, and inclusive world economic growth and creating a peaceful, prosperous, and inclusive world.

Fundamental Way to Realize the Chinese Dream

“China observes mutual benefits” has been written into the Constitution of the People’s Republic of China, and is a basic national policy to realize the rejuvenation and prosperity of the Chinese nation, and our party’s significant strategic decision based on scientific assessment of past experiences.

Its implementation is not only the inheritance and development of the previous series of principles and policies of opening-up, but also shows China’s commitment to further expand all-round opening-up and achieve long-term cooperation with other countries.

China has showed its sense of responsibility as a major country in opening-up, not only drawing development momentum from the world, but also making China’s development better benefit the world.

From “bringing in” to “going global”, from joining the WTO to advocating the establishment of the AIIB, from successfully coping with the multiple financial crises to actively participating in global cooperation, from promoting the “Belt & Road Initiative” to build a community with a shared future for mankind, China chooses to seek common development through opening up.

Standing at a new starting pointing, China will continue to implement the win-win strategy of opening-up. The international community can believe that China is more confident and capable than ever to create greater achievements through opening-up and promote win-win cooperation with other countries.