China's Vice Premier He Lifeng at Davos: Advocating Free Trade and Cooperation

China's Stance on Global Economy

• 💡 Vice Premier He Lifeng emphasized China's steadfast support for multilateralism and free trade at the World Economic Forum in Davos.
• ⚠️ He warned that unilateralism, protectionism, and tariff/trade wars inflict significant shocks on the world economy and challenge multilateralism.
• 📊 China advocates for a universally beneficial and inclusive economic globalization, stressing that dialogue is essential to steer it correctly.

Principles for International Cooperation

• 🤝 China calls for safeguarding multilateralism to ensure a just and equitable international economic and trade order, where rules apply equally to all.
• ⚖️ The speaker highlighted that unilateral acts violate WTO principles, and the world must not revert to a "law of the jungle" where the strong bully the weak.
• 📈 He urged for win-win cooperation to "make the pie bigger" and jointly resolve development issues, rather than engaging in zero-sum games.
• 💬 China emphasizes mutual respect and equal-footed consultation to manage differences and solve problems through dialogue, citing US-China relations as an example where cooperation benefits both.

China's Economic Progress and Contributions

• 🚀 Over the past five years, the Chinese economy has seen steady progress with an average annual growth rate of 5.4%, contributing approximately 30% to global economic growth.
• 💰 China has imported over $15 trillion worth of goods and services and generated over $300 billion in tax revenue from overseas investments.
• ✅ The speaker affirmed China's solid economic foundations, strong resilience, and great potential, addressing challenges as "growing pains" of development.

Key Areas of China's Development Strategy

• 🛍️ China plans to actively expand domestic demand, leveraging its position as the world's second-largest consumer market and a growing middle-income group.
• 🌐 The nation will steadfastly expand opening up, aligning with high-standard international economic and trade rules, and improving its market-oriented business environment for foreign investment.
• 🔬 China aims to accelerate scientific and technological innovation, promoting integration between tech and industry, protecting intellectual property rights, and fostering international cooperation in areas like AI governance.
• 🌱 A commitment to green development includes achieving carbon peaking before 2030 and carbon neutrality before 2060, supported by the world's largest renewable energy system.