Davos, January 21, 2025 — Chinese Vice Premier Ding Xuexiang delivered a compelling address at the World Economic Forum Annual Meeting 2025 in Davos, Switzerland, emphasizing the importance of multilateralism and inclusive globalization in tackling global challenges.
Speaking to a diverse audience of global leaders, business professionals, and academics, Ding highlighted the transformative changes occurring worldwide and the critical crossroads at which humanity now stands. He recalled President Xi Jinping's landmark speech eight years prior, where Xi advocated for economic globalization and multilateral cooperation, sending a “resounding message” that remains relevant today.
“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,” Ding stated, urging collective efforts to bring stability and certainty to the world.
Promoting Inclusive Globalization
Ding underscored the necessity of a universally beneficial economic globalization, pointing out that it is not a zero-sum game but a process where all can win together. He emphasized that protectionism and trade wars lead nowhere and called for steering economic globalization in the right direction to address development challenges through inclusive cooperation.
“We should not only make the pie of economic globalization bigger, but also distribute it better,” he asserted, advocating for a win-win solution achieved through communication and coordination.
Upholding True Multilateralism
The Vice Premier stressed the need to uphold and practice true multilateralism as the “golden key” to solving global difficulties. He called for reaffirming commitment to the purposes and principles of the United Nations Charter, supporting the UN-centered international system, and fostering an open, inclusive, and nondiscriminatory environment for international economic cooperation.
Addressing Global Challenges Together
Ding highlighted the urgency of tackling major global challenges such as climate change, food security, and energy security through strengthened global solidarity. He mentioned President Xi’s Global Development Initiative, Global Security Initiative, and Global Civilization Initiative as important public goods offered to the world, advocating for their advancement to generate enduring impetus for development.
China’s Commitment to High-Quality Development
Addressing the Chinese economy, Ding noted that high-quality development is making solid progress, serving as a key engine for global economic development. Despite headwinds from the external environment and internal economic restructuring pains, China’s GDP grew by five percent, showcasing resilience and a steady rebound.
“China’s stable and sound economic development will inject strong and sustained impetus to global economic development,” he assured, outlining plans to intensify macro policies, boost consumption, and promote the integrated development of scientific and technological innovation.
Accelerating Green Transition
Ding emphasized China’s acceleration of green and low-carbon transition, highlighting significant reductions in energy consumption per unit of GDP and carbon emission intensity. He affirmed China’s commitment to peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060, contributing to global climate response.
Advancing Reform and Opening Up
The Vice Premier reiterated China’s dedication to reform and opening up, describing it as the source of vitality for the Chinese economy. He detailed systematic plans for further deepening reform to advance Chinese modernization, fostering a fairer and more dynamic market environment, and providing equal and fair treatment for all enterprises.
“China’s door of opening up will not be closed and will only open even wider, and our business environment will only get better,” Ding declared, inviting more foreign enterprises to invest and do business in China.
A Call for Shared Future
Concluding his address, Ding called for collective efforts to uphold multilateralism and promote open and inclusive development, ushering in a better future together. “Let’s start again from Davos, uphold the right path of multilateralism, promote open and inclusive development, and jointly usher in a better future,” he urged.
As the world navigates through transformation and challenges, Ding’s message at Davos reinforces China’s commitment to collaborative solutions and shared progress, resonating with global readers, business professionals, academics, and communities worldwide.
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Full text: Address by Vice Premier Ding Xuexiang at Davos 2025
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