Xi says China will continue to be biggest engine of world economic growth

Chinese President Xi Jinping meets with heads of major international economic organizations, who came here for the "1+10" Dialogue, at the Great Hall of the People in Beijing, capital of China, Dec. 10, 2024. [Xinhua/Huang Jingwen]

BEIJING -- Chinese President Xi Jinping said on Tuesday China has full confidence to achieve this year's economic growth target and will continue to play its role as the biggest engine of world economic growth.

Xi made the remarks during a meeting in Beijing with heads of major international economic organizations, who are here to attend the "1+10" dialogue.

The foreign dignitaries included President of the New Development Bank Dilma Rousseff, Managing Director of the International Monetary Fund Kristalina Georgieva, President of the World Bank Group Ajay Banga, and Director-General of the World Trade Organization Ngozi Okonjo-Iweala.

Xi briefed the guests on the third plenary session of the 20th Central Committee of the Communist Party of China, especially the important measures recently adopted by China. He said that after more than 40 years of sustained and rapid development, the Chinese economy has ushered in a phase of high-quality development, contributing around 30 percent to the world economic growth.

China will further opening-up to the outside world, proactively align with high-standard international economic and trade rules, and build a market-oriented, law-based and internationalized business environment to provide more opportunities for and share more development dividends with other countries, he said.

China is willing to maintain dialogue, expand cooperation and manage differences with the U.S. government, and push bilateral relations forward in the direction of steady, healthy and sustainable development, Xi said, expressing the hope that the U.S. side will work with China in the same direction.

"Tariff wars, trade wars and sci-tech wars go against the trend of history and the laws of economics, and there will be no winners," he said.

Noting the progress in the Belt and Road Initiative (BRI) over the past decade, Xi welcomed international economic organizations to continue actively participating in the BRI cooperation and promote the modernization of all countries that features peaceful development, mutually beneficial cooperation and common prosperity.

The foreign guests hailed China's remarkable achievements, particularly in reducing poverty and fostering new quality productive forces, saying China's people-centered development philosophy has been proven to be both successful and practical and offers inspiration for the world.

China has continued to comprehensively deepen reform, expand opening-up and achieve high-quality development, providing tremendous opportunities to the world, especially countries in the Global South, they said.

They noted that the BRI, the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative have fully demonstrated China's role as a responsible major country and provided an important platform for countries in the Global South to achieve their own development.

Amid global economic challenges and the rise of unilateralism and protectionism, countries around the world are looking to China with hope and belief that it will remain a key engine of global economic growth, they said. 

Chinese President Xi Jinping meets with heads of major international economic organizations, who came here for the "1+10" Dialogue, at the Great Hall of the People in Beijing, capital of China, Dec. 10, 2024. [Xinhua/Zhai Jianlan]