Xi Jinping Attends the 2022 World Economic Forum Virtual Session and Delivers a Speech

On January 17, 2022, President Xi Jinping attended the 2022 World Economic Forum Virtual Session in Beijing and delivered a speech titled "Forge Ahead with Confidence and Fortitude to Jointly Create a Better Post-COVID World".

Xi Jinping first pointed out, in two weeks' time, China will celebrate the advent of spring in the lunar new year, the Year of the Tiger. In Chinese culture, tiger symbolizes bravery and strength, as the Chinese people often refer to spirited dragon and dynamic tiger, or soaring dragon and leaping tiger. To meet the severe challenges facing humanity, we must "add wings to the tiger" and act with the courage and strength of the tiger to overcome all obstacles on our way forward. We must do everything necessary to clear the shadow of the pandemic and boost economic and social recovery and development, so that the sunshine of hope may light up the future of humanity.

Xi Jinping stressed that the world today is undergoing major changes unseen in a century. These changes, not limited to a particular moment, event, country or region, represent the profound and sweeping changes of our times. As changes of the times combine with the once-in-a-century pandemic, the world finds itself in a new period of turbulence and transformation. How to beat the pandemic and how to build the post-COVID world? These are major issues of common concern to people around the world. They are also major, urgent questions we must give answers to.

Xi Jinping emphasized, "The momentum of the world either flourishes or declines; the state of the world either progresses or regresses." The world is always developing through the movement of contradictions; without contradiction, nothing would exist. The history of humanity is a history of achieving growth by meeting various tests and of developing by overcoming various crises. We need to move forward by following the logic of historical progress, and develop by riding the tide of development of our times. We need to learn from comparing long history cycles, and see the change in things through the subtle and minute. We need to foster new opportunities amidst crises, open up new horizons on a shifting landscape, and pool great strength to go through difficulties and challenges.

First, we need to embrace cooperation and jointly defeat the pandemic. Facts have shown once again that amidst the raging torrents of a global crisis, countries are not riding separately in some 190 small boats, but are rather all in a giant ship on which our shared destiny hinges. Small boats may not survive a storm, but a giant ship is strong enough to brave a storm. Strong confidence and cooperation represent the only right way to defeat the pandemic. Holding each other back or shifting blame would only cause needless delay in response and distract us from the overall objective. Countries need to strengthen international cooperation against COVID-19, carry out active cooperation on research and development of medicines, jointly build multiple lines of defense against the coronavirus, and speed up efforts to build a global community of health for all. Of particular importance is to fully leverage vaccines as a powerful weapon, ensure their equitable distribution, quicken vaccination and close the global immunization gap, so as to truly safeguard people's lives, health and livelihoods.

Second, we need to resolve various risks and promote a steady recovery of the world economy. The world economy is emerging from the depths, yet it still faces many constraints. In the context of ongoing COVID-19 response, we need to explore new drivers of economic growth, new modes of social life and new pathways for people-to-people exchange, in a bid to facilitate cross-border trade, keep industrial and supply chains secure and smooth, and promote steady and solid progress in global economic recovery. Countries around the world should uphold true multilateralism. We should remove barriers, not erect walls. We should open up, not close off. We should seek integration, not decoupling. This is the way to build an open world economy, to make economic globalization more open, inclusive, balanced and beneficial for all, and to fully unleash the vitality of the world economy. To turn the world economy from crisis to recovery, it is imperative to strengthen macro-policy coordination. Major economies should see the world as one community, think in a more systematic way, increase policy transparency and information sharing, and coordinate the objectives, intensity and pace of fiscal and monetary policies. Major developed countries should adopt responsible economic policies, manage policy spillovers, and avoid severe impacts on developing countries. International economic and financial institutions should play their constructive role to pool global consensus, enhance policy synergy and prevent systemic risks.

Third, we need to bridge the development divide and revitalize global development. The process of global development is suffering from severe disruption. The Human Development Index has declined for the first time in 30 years. Some developing countries have fallen back into poverty and instability due to the pandemic. Many in developed countries are also living through a hard time. No matter what difficulties may come our way, we must adhere to a people-centered philosophy of development, place development and livelihoods front and center in global macro-policies, realize the UN's 2030 Agenda for Sustainable Development, and build greater synergy among existing mechanisms of development cooperation to promote balanced development worldwide. We need to uphold the principle of common but differentiated responsibilities, promote international cooperation on climate change in the context of development, and implement the outcomes of COP26 to the United Nations Framework Convention on Climate Change. Developed economies should take the lead in honoring their emissions reduction responsibilities, deliver on their commitment of financial and technological support, and create the necessary conditions for developing countries to address climate change and achieve sustainable development. The Global Development Initiative is a public good open to the whole world. China stands ready to work with all partners to jointly translate the Initiative into concrete actions and make sure that no country is left behind in this process.

Fourth, we need to discard Cold War mentality and seek peaceful coexistence and win-win outcomes. Our world today is far from being tranquil; rhetorics that stoke hatred and prejudice abound. Acts of containment, suppression or confrontation arising thereof do all harm, not the least good, to world peace and security. History has proved time and again that confrontation does not solve problems; it only invites catastrophic consequences. Protectionism and unilateralism can protect no one; they ultimately hurt the interests of others as well as one's own. Even worse are the practices of hegemony and bullying, which run counter to the tide of history. Naturally, countries have divergences and disagreements between them. Yet a zero-sum approach that enlarges one's own gain at the expense of others will not help. The right way forward for humanity is peaceful development and win-win cooperation. Different countries and civilizations may prosper together on the basis of respect for each other, and seek common ground and win-win outcomes by setting aside differences. We should follow the trend of history, work for a stable international order, advocate common values of humanity, and build a community with a shared future for mankind. We should choose dialogue over confrontation, inclusiveness over exclusion, and stand against all forms of unilateralism, protectionism, hegemony or power politics.

Xi Jinping stressed that last year, the Communist Party of China (CPC) celebrated the 100th anniversary of its founding. Through a century of tenacious struggle, the CPC has rallied and led the Chinese people in accomplishing remarkable achievements in the advancement of the nation and betterment of people's lives. We have realized a moderately prosperous society in all respects and won the battle against poverty, both according to plan, and found a historic solution to ending absolute poverty. Now, China is marching on a new journey of building a modern socialist country in all respects.

- China will stay committed to pursuing high-quality development. China's economy enjoys a good momentum overall. Last year, our GDP grew by around eight percent, achieving the dual target of fairly high growth and relatively low inflation. Shifts in the domestic and international economic environment have brought tremendous pressure, but the fundamentals of China's economy, characterized by strong resilience, enormous potential and long-term sustainability, remain unchanged. We have every confidence in the future of China's economy. China has made it clear that we strive for more visible and substantive progress in the well-rounded development of individuals and the common prosperity of the entire population. We are working hard on all fronts to deliver this goal.

- China will stay committed to reform and opening-up. For China, reform and opening-up is always a work in process. Whatever change in the international landscape, China will always hold high the banner of reform and opening-up. China will continue to let the market play a decisive role in resource allocation. We will be steadfast in consolidating and developing the public sector, just as we are steadfast in encouraging, supporting and guiding the development of the non-public sector. We will build a unified, open, competitive and orderly market system, where all businesses enjoy equal status before the law and have equal opportunities in the marketplace. All types of capital are welcome to operate in China in compliance with laws and regulations, and play a positive role in the development of the country. China will continue to expand high-standard opening-up, steadily advance institutional opening-up that covers rules, management and standards, deliver national treatment for foreign businesses, and promote high-quality Belt and Road cooperation.

- China will stay committed to promoting ecological conservation. We should never grow the economy at the cost of resource depletion and environmental degradation, which is like draining a pond to get fish; nor should we sacrifice growth to protect the environment, which is like climbing a tree to catch fish. Guided by our philosophy that clean waters and green mountains are just as valuable as gold and silver, China has carried out holistic conservation and systematic governance of its mountains, rivers, forests, farmlands, lakes, grasslands and deserts. We do everything we can to conserve the ecological system, intensify pollution prevention and control, and improve the living and working environment for our people. Achieving carbon peak and carbon neutrality are the intrinsic requirements of China's own high-quality development and a solemn pledge to the international community. China will honor its word and keep working toward its goal. Carbon peak and carbon neutrality cannot be realized overnight. Through solid and steady steps, China will pursue an orderly phase-down of traditional energy in the course of finding reliable substitution in new energy. This approach, which combines phasing out the old and bringing in the new, will ensure steady economic and social development. China will also actively engage in international cooperation on climate and jointly work for a complete transition to a greener economy and society.