Xi addresses BRICS Business Forum

President Xi Jinping attended the opening ceremony of the BRICS Business Forum in virtual format in Beijing on Wednesday and delivered a keynote speech.

Xi calls for joint efforts to seek, uphold peace

History has shown that hegemony, group politics and bloc confrontations bring neither peace nor stability, but rather war and conflict, said Xi in a keynote speech delivered in virtual format at the opening ceremony of the BRICS Business Forum.

The Ukraine crisis has again sounded the alarm for humanity: Countries will surely end up in security hardships if they place blind faith in their positions of strength, expand military alliances, and seek their own safety at the expense of others, Xi said.

Xi calls for steering global development into new era

Noting that development holds the key to tackle challenges and promote people's well-being, Xi said the aspirations of the people and the interests of the international community should be the focus in steering global development into a new era to bring benefits to people of all countries.

Xi calls for solidarity, win-win cooperation

Xi called on countries around the world to stick together in the face of difficulties and join hands for win-win cooperation.

Currently, some key industrial and supply chains are intentionally hindered, commodities prices are fluctuating at high levels, inflation is running high around the world, international financial markets remain volatile, and the momentum of the global economic recovery is continuously weakening, said Xi.

"People are all worried if the world economy will fall into the quagmire of crises," Xi said. "At this crucial moment, only by sticking together in solidarity and cooperation can we overcome economic crises."

Willful sanctioning brings disasters to people around world

Describing sanctions as boomerangs and double-edged swords, Xi said those who politicize, leverage and weaponize global economy and willfully impose sanctions by taking advantage of dominance in international financial and monetary systems will eventually harm others and themselves and bring disasters to people around the world.

Major developed countries should adopt responsible economic policies

Xi called on major developed countries to avoid negative spillover effects of their policies and to prevent severe shocks for developing countries.

Macroeconomic policy coordination should be intensified in order to prevent global recovery from slowing down or even halting, said Xi.

China to strive to meet 2022 economic, social targets, minimize COVID-19 impacts

Xi said that China will strengthen macro-policy adjustment and adopt more effective measures to strive to meet the social and economic development targets for 2022 and minimize the impacts of COVID-19.

Xi said China has adhered to the principle of "people first, life first," built a solid defense against the epidemic, and consolidated the results of epidemic prevention and control. The measures have protected the people's life and health to the utmost and stabilized the fundamentals of economic and social development as much as possible, Xi said.

Economic globalization unstoppable historical trend

Xi said economic globalization has been faced with headwinds over a period of time, as some countries have tried to "decouple and cut off chains," and build "exclusive yards with high walls."

This has raised common concern in the international community that, if the trend goes on, the global economy will be divided into isolated blocs, Xi said.

Those who attempt to turn back the wheel of history and block others' paths will only reach a dead end themselves, he said.

Xi calls for promoting sound development of globalization

Xi called for efforts to stay open and inclusive, and clear away all barriers impeding the development of productive forces to promote the sound development of globalization.

We should encourage the free flow of capital and technology and a continued emergence of innovation and wisdom so as to pool the synergy of global economic growth, he said.

Xi calls for strengthening global economic governance

Xi urged efforts to strengthen global economic governance and increase the representation and voices of emerging markets and developing countries.

Xi stresses upholding multilateral trading system with WTO at its core

Xi called for upholding the multilateral trading system with the World Trade Organization (WTO) at its core, removing trade, investment and technology barriers, and working to build an open world economy.

CPC to convene 20th national congress in second half of 2022

Xi said the Communist Party of China (CPC) is to convene its 20th national congress in the second half of 2022 to draw China's development blueprint in the next stage.

China to continue to enhance opening-up

Xi said China will continue to enhance opening-up and foster a business environment that is based on market principles, governed by law and up to international standards.

He encouraged businesses to invest and develop in China, enhance trade and economic cooperation, and share development opportunities.

Historical trend of openness, development not to change

Despite the changing international landscape, the historical trend of openness and development will not change, nor will the aspiration to meet challenges together, said Xi.

Xi called on all countries to not flinch away from risks, rise up to challenges and forge ahead toward the goal of building a community with a shared future for humanity.

Full Text: Chinese President Xi Jinping's keynote speech at the opening ceremony of the BRICS Business Forum