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Xi Jinping on financial globalization

Economic

Xi Jinping on financial globalization

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BEIJING, Nov. 4 (Xinhuanet) – President Xi Jinping will deliver a video keynote address at the opening ceremony of the fourth China International Import Expo (CIIE) and the Hongqiao International Economic Forum.

At previous CIIEs and forums over the past three years, Xi has presented a number of opening-up policies and talked about economic globalization. Here are some highlights of his quotes:

– In response to changing circumstances and new demands, we set out to promote a new development paradigm, with domestic diffusion being the mainstay and domestic and international diffusions reinforcing each other. We do not envision a development loop behind closed doors, but rather more open national and international circulation. We will do this not only to meet China’s own development needs, but also for the greater benefit of the people in all countries.

– Our goal is to transform the Chinese market into a market for the world, a market that is shared and accessible to all. In this way we will be able to bring more positive energy into the world community.

– Economic globalization represents the trend of history. Like the great rivers of the world, the Yangtze, the Nile, the Amazon and the Danube – they all flow forward in relentless currents, and nothing can stop their mighty movement, not the current of suction or hidden shallows or rocks beneath the water.

– We have to “shake hands” instead of “letting go” of the other’s hands. We need to “tear down walls”, not “build walls”. We must stand firmly against protectionism and unilateralism. We have to continuously dismantle trade barriers, optimize global value and supply chains and jointly promote market demand.

Efforts to dismantle tariff barriers and wider opening will lead to interconnectivity in economic cooperation and world trade, while the practices of neighbor begging, isolation and seclusion will only lead to trade stagnation and an unhealthy world economy.

– China will remain a strong advocate of openness at the global level and will continue to function as a stable engine of global growth, a large market with tremendous opportunities, and an active supporter of global governance reform.

– China’s initiative to expand imports is not a choice of expediency. It is a forward-looking step to embrace the world and encourage common development.

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