President Xi Jinping delivered a keynote speech at the opening session of the World Economic Forum. He offered China’s vision on the global economy and said China’s development is an opportunity for the world.
World leaders and business people come together in Davos, to find solutions to continuing economic problems around the world.
CGTN’s Hou Na reports from Davos.
“Economic globalization was not the cause of the financial crisis. It was the consequence of an excessive pursuit of profit and a grave failure of financial regulation. We must release the positive impact of economic globalization and rebalance the process,” Xi said.
He stressed the need to develop a dynamic innovation-driven growth model, a model of open and win-win cooperation. He also said China’s development is an opportunity for the world.
“China will keep its door wide open and not close it. An open door allows other countries to access the Chinese Market and China itself to integrate with the world,” Xi said.
Xi also said that in the next five years, China is expected to import $8 trillion of goods, attracting $600 billion of foreign investment and make $750 billion of outbound investment.
“Since the Belt and Road initiative was proposed over three years ago, more than 100 countries and international organizations responded warmly and given support to the initiative,” Xi said.
He said China will host a Belt and Road Forum for international cooperation in Beijing in May, to seek ways to boost cooperation and share its results.
President Xi offered China’s vision on domestic economic growth and global economy overshadowed by protectionism.
The following is the full text of Chinese President Xi Jinping’s keynote speech at the World Economic Forum in Davos, Switzerland.
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