At the World Economic Forum’s Annual Meeting 2025 in Davos, Switzerland, Chinese Vice Premier Ding Xuexiang delivered a powerful speech on Tuesday, urging the international community to embrace multilateralism and foster open and inclusive development.
“We are at a critical crossroads,” Ding declared, emphasizing the rapid and unprecedented changes the world is undergoing. “We should firm up confidence, uphold solidarity and cooperation, and forge ahead hand in hand, despite high winds and choppy waters, to build a community with a shared future for mankind.”
Four Recommendations for Inclusive Globalization
Ding outlined four key recommendations to promote globalization:
- Inclusive Economic Globalization: He called for efforts to promote universally beneficial globalization, seeking win-win solutions based on mutual cooperation. “We should not only make the pie of economic globalization bigger, but also distribute it better,” he said.
- Upholding Multilateralism: Ding urged the global community to uphold true multilateralism, firmly supporting the United Nations-centered international system. He emphasized the need for equal rights, opportunities, and rules for all countries in international affairs, fostering an open and nondiscriminatory environment for international economic cooperation.
- Fostering New Drivers of Growth: Highlighting the importance of innovation, Ding advocated for enhanced digital connectivity and international cooperation in science and technology. He encouraged more countries to join the fast train of digital economic development.
- Tackling Global Challenges Together: Ding called for joint efforts to address pressing global issues such as climate change and food and energy security. He promoted China’s Global Development Initiative, Global Security Initiative, and Global Civilization Initiative as means to gather strength to overcome difficulties and challenges.
Three Trends Shaping China’s Economy
Ding also shared insights on key trends in China’s economy:
- Progress in High-Quality Development: He noted significant advancements in China’s shift from traditional growth drivers to new ones. Emerging industries are booming, and the nation is focusing on higher-quality economic growth with proactive fiscal and accommodative monetary policies.
- Accelerated Green Transition: Ding highlighted China’s leadership in building the world’s largest and most complete new energy industrial chain. “No matter how the international landscape may evolve, China’s determination and action for proactive climate response will not change,” he affirmed.
- Deepening Reform and Opening Up: Emphasizing commitment to a high-standard socialist market economy, Ding assured that China’s door to opening up will only widen. He welcomed foreign enterprises to invest and do business in China, promising an ever-improving business environment.
“We will make tireless efforts to reduce carbon emissions and mitigate pollution while expanding green transition and promoting economic growth,” Ding said, reinforcing China’s dedication to sustainable development.
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Key takeaways from Vice Premier Ding Xuexiang's speech at Davos
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