ERG: Fair, transparent cooperation benefits all countries

How do you see China's role in promoting globalization and multilateral trade? What is your view on trade protectionism?

As a result of economic globalization and growth, the world economy has fostered an environment of openness and inclusion, creating an overall win-win situation. China has put forward an example of a credible and outward-looking vision, which is represented in its Belt and Road Initiative and the Going Global strategy.

Trade protectionism contributes to increased uncertainty in global trade. The world today is going through a new round of major developments and changes, with countries becoming increasingly interconnected in their economic and social development patterns.

As such, it is important for all parties to have a joint approach toward addressing new challenges. While every country may do what is in its own self-interest, only globalization and international collaboration can optimize the resources around the world. It is against this backdrop that countries should promote robust and coherent collaboration in the next decade.

Taking the new energy vehicle industry as an example, many countries including China have been investing heavily in battery technology and energy storage research and development.

Each country has its own strong points, including holding vast resources of strategic materials, such as lithium or cobalt.

Countries will benefit from a fair, transparent and mutually beneficial environment of global cooperation, which results in a positive spillover effect for the industry at large.