Focus: Join hands to promote universally beneficial, inclusive economic globalization

Chinese President Xi Jinping gave a written speech at the APEC CEO Summit on November 15, 2024 under the title "Keeping Abreast of the Trend of the Times and Jointly Promoting Prosperity Around the World."

"Tougher times call for greater confidence," Xi noted. He stressed that we should join hands to promote a universally beneficial and inclusive economic globalization to the benefit of various countries and communities.

Here are the highlights of his speech.

First, we should take innovation as the driving force for stronger growth of the world economy. Innovation is the source of productivity. We should make full use of artificial intelligence and other emerging technologies to rev up the world economy and stimulate its growth with the current technological revolution. Advances in science and technology should benefit the entire humanity. We should help developing countries with their capacity building in science and technology and promote global flow of knowledge and technologies.

Second, we should keep pace with the times and reform the system of global economic governance. We should follow the principles of "plan together, build together and benefit together" to ensure that the global economic governance system better reflects the new reality of the world economic map. The representation and voice of the Global South should be enhanced continuously, and all countries should be ensured of equal rights, equal opportunities and equal rules in conducting international economic cooperation. We should uphold the WTO-centered multilateral trading regime, push for an open world economic system, and keep the global industrial and supply chains stable and smooth.

Third, we should always take the people-centered approach and seek to settle imbalances in development. Global prosperity and stability cannot be achieved when the rich get richer and the poor poorer. True development means common development of all countries. We should ensure people's well-being while seeking economic growth, and foster a development environment that is inclusive and beneficial for all. We should pursue economic globalization that is people-centered and delivers more balanced development and more equal opportunities, so that different countries, classes and communities can all benefit from development. China hopes that all parties will take an active part in the Global Development Initiative to help expedite the implementation of the 2030 Agenda for Sustainable Development and promote balanced and full development of all countries.