From Hangzhou to Hamburg: Xi offers Chinese wisdom to G20

INSPIRING THE WORLD

The Hamburg summit came as the world increasingly pins its hopes on major economies including China sketching out a road-map to solve the global economic conundrum.

Despite concerns over its economic slowdown, China is undoubtedly a role model for other economies to look up to, and it remains the single largest contributor to world economic growth.

Official data showed China's foreign trade saw robust growth in Q1 to reach 6.2 trillion yuan (about $912 billion) in volume, up 21.8 percent year on year.

The strong performance helped the broader economy on to a steadier track. The economy expanded 6.9 percent in the first three months, beating the full-year target of around 6.5 percent.

As established world powers struggle with domestic problems while protectionism rears its ugly head, China's commitment to opening its doors to the world has become a benchmark for continued globalization and won global applause.

In his January speech during the World Economic Forum at Davos, Xi said protectionism was like "locking oneself in a dark room."

"Though economic globalization has created new problems, this is no justification to write economic globalization off completely," Xi said. "Rather, we should adapt to and guide economic globalization, cushion its negative impact and deliver its benefits to all countries and all nations."

The president reaffirmed the pledge in Hamburg.

"We must remain committed to openness and mutual benefit for all so as to increase the size of the global economic pie," Xi said.

He also pointed out that the efforts to address the issue of development and implement the 2030 Agenda for Sustainable Development can be win-win for all.

"Such efforts will both benefit developing countries and generate business and investment opportunities for developed countries," Xi said.

He welcomed the consensus on innovation and development reached by the leaders in Hangzhou last year, such as the G20 Action Plan on the 2030 Agenda for Sustainable Development, has been sustained this year under the German chairmanship.

For all the topics mentioned above, China, as the second biggest economy worldwide, shouldered its international responsibilities to jointly address the challenges, instead of walking away.