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Making the "pie" of cooperation bigger for the world

Source: Xinhua Updated: 2022-05-20

BEIJING -- In a world plagued by a lingering pandemic and protectionism, China, through its wisdom and action, once again offers the globe a path to a brighter future.

Chinese President Xi Jinping voiced the country's resolve to not only carry forward with its own opening-up but push for an open world economy, when addressing the conference of the 70th anniversary of the China Council for the Promotion of International Trade and the Global Trade and Investment Promotion Summit via video link Wednesday.

"We should support the WTO-centered multilateral trading regime, ensure security and stability of the global industrial and supply chains, and make the 'pie' of cooperation bigger to allow development gains to better trickle down to people of all countries," he said.

The president urged joint efforts to defeat COVID-19, reinvigorate trade and investment, unleash the power of innovation in driving development, and improve on global governance.

At a time of uncertainty and instability, the renewed call for multilateral efforts will blaze a trail for countries across the globe to forge ahead through hardship and seek sustainable development impetus.

Since launching its reform and opening-up in the late 1970s, China has remained a champion for multilateralism and a staunch pioneer in pursuit of a better world.

Over the past decades, the country has been steadily integrating into global development, including its accession to the WTO over 20 years ago. China, now the world's second-largest economy, has emerged as the largest growth engine in the world, topping the globe in goods trade and outbound direct investment.

In the global fight against COVID-19, China's economic rebound facilitated global recovery, and its stable factory production guaranteed a lifeline for international industrial and supply chains. It also shipped vaccines to countries in need to help narrow the "immunization gap."

From the Swiss ski resort of Davos to China's southern coastal town Boao, President Xi has on many occasions accentuated China's commitment to its opening-up and global cooperation.

"Opening-up is the hallmark of contemporary China," Xi said at the fourth China International Import Expo last November, stressing the opportunities available in China's vast market with a population of 1.4 billion, including over 400 million middle-incomers.

The right way forward for humanity is peaceful development and win-win cooperation, Xi said while delivering a special address at the 2022 World Economic Forum virtual session in January. "We should choose dialogue over confrontation, inclusiveness over exclusion, and stand against all forms of unilateralism, protectionism, hegemony or power politics."

Speaking at the Boao Forum for Asia Annual Conference 2022 in April, Xi likened countries around the world to "passengers aboard the same ship who share the same destiny," calling on "all passengers" to pull together for the ship to navigate the storm and sail toward a bright future.

China has walked its talk. The country has accelerated its opening-up drive in the past decade, bringing real and remarkable benefits to people and enterprises both at home and abroad.

A number of free trade zones have been established across the country, and restrictions on foreign investment have been relaxed continuously. High-quality cooperation under the China-proposed Belt and Road Initiative has been promoted, while the world's first import expo at the national level has been held in China each year since 2018.

Most recently, the Regional Comprehensive Economic Partnership agreement, the world's largest free trade deal with China as one of the signing members, came into force on the first day of 2022.

China's resolve to open up at a high standard will not change, and the door of China will open still wider to the world, Xi said in Wednesday's speech, pledging to offer more market, investment and growth opportunities to the global business community.

"Let us join hands to uphold peace, development, cooperation and win-win partnership, work together to meet the problems facing the global economy, trade and investment, and jointly usher in an even brighter future," Xi noted.

The views don't necessarily reflect those of Qiushi Journal.