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

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 as he met with heads of major international economic organizations in Beijing.

Noting the world nowadays has entered a new period of turbulence and change, once again at a critical crossroads, Xi said China is ready to work with major international economic organizations to practice multilateralism, promote international cooperation, support the development of countries in the global South, promote an equal and orderly multi-polar world, economic globalization that benefits all and builds a just world of common development.

The leaders of the New Development Bank, the World Bank, the World Trade Organization and the International Monetary Fund all spoke highly of China’s economic development achievements. They were also optimistic about China’s development prospects and thanked China for its long-term support for the work of international economic organizations.

Noting unilateralism and protectionism are on the rise, the leaders of major international economic organizations said they are willing to work closely with China, adhere to multilateralism, uphold free trade and economic globalization, make greater contributions to the common development and prosperity of the world, and create a shared future for mankind.

Xi said economies of all countries face their own difficulties. All countries should work together to build an open world economy, be innovation-driven, seize important opportunities such as the digital economy, artificial intelligence and low-carbon technologies, create new sources of economic growth and support cross-border flows of knowledge, technology and human resources, Xi added.

Xi said after more than 40 years of sustained and rapid development, China’s economy has entered a stage of high-quality development and contributed about 30 percent to world economic growth.

Noting China’s development is open and inclusive, Xi said China will continue to open wider to the outside world, actively align with high-standard international economic and trade rules, build a market-oriented, law-based and world-class business environment, and build a new system of open economy at a higher level, so as to provide more new opportunities and share more development dividends with other countries.

The Chinese president welcomed international economic organizations to continue to actively participate in China-proposed Belt and Road Initiative and promote the modernization of all countries in the world with peaceful development, mutually beneficial cooperation and common prosperity.

Xi also said China hopes the United States will work with China to push bilateral relations toward a steady, healthy and sustainable 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, Xi said, adding that China is willing to maintain dialogue, expand cooperation and manage differences with the U.S. government.

(With input from Xinhua)