Chinese President Xi Jinping on Thursday expounded on how China's unlocked market potential, wider opening up and deepening international cooperation under the new development paradigm will offer more development opportunities and bring shared prosperity to the world.
Addressing the Asia-Pacific Economic Cooperation (APEC) CEO Dialogues via video link, Xi said the COVID-19 pandemic has accelerated changes unseen in a century in the world, warning of increasing risks and uncertainties in the world economy caused by mounting unilateralism and protectionism.
"However, peace and development remain the underlying trend of our times. Meeting challenges through cooperation is the only way forward for us in the international community," Xi noted.
Taking into account China's domestic development and changes in the external environment, the country's top leadership has made a strategic decision to foster a new development paradigm with the domestic circulation as the mainstay and internal and external circulations reinforcing each other.
This pandemic once again shows that the interests of all countries are closely interwoven and that humankind shares a common stake. Indeed, our world is an indivisible community with a shared future.
To beat the virus and promote global recovery, we in the international community must close ranks and jointly respond to this crisis and meet the test.
The fundamentals sustaining China’s steady and long-term economic growth remain unchanged. We have full confidence and ability to maintain stable economic performance and achieve the goals of finishing the building of a moderately prosperous society in all respects and eradicating poverty within the set time frame.
The new development paradigm is a strategic decision we have made based on the current stage and conditions of development in China and with full consideration given to economic globalization and changes in the external environment.
First, we will expand domestic demand as a strategic priority and ensure smooth flow of economic activity.
Second, we will vigorously make scientific and technological innovations to foster new growth drivers.
Third, we will continue to deepen reform and energize the market.
We will not reverse course or run against historical trend by “decoupling” or forming a small circle to keep others out.
By fostering a new development paradigm, we are not pursuing a closed-door circulation, but open and mutually reinforcing domestic and international circulations.
The new development paradigm will enable China to fully unlock its market potential and create greater demand for other countries.
The new development paradigm will enable China to open up wider and share more opportunities for common development with other countries.
The new development paradigm will enable China to continue to deepen international cooperation for shared benefits.
The Asia-Pacific is our shared home. To sustain peace, stability, development and prosperity in the region meets the interests of us all.
I hope you will contribute your share to promoting openness and development.
I hope you will explore innovation-driven growth.
I hope you will be partners for achieving win-win cooperation.
I hope you will actively fulfill your social responsibilities.
The day will come when we finally beat COVID-19 and win victory in this fight. Let us work in solidarity and weather the storm together. Let us stay true to openness and cooperation and make development and circulations at home and overseas reinforce each other. Together, we can surely deliver a brighter future for all of us, both here in the Asia-Pacific and across the world!