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Communist Party of China CPC>>News
08:18, January 29, 2010

Chinese leader urges efforts for sound recovery, sustained development of world economy
Chinese Vice Premier Li Keqiang on Thursday called for international efforts to promote the sound recovery and sustained development of the world economy in the post-crisis era.

Chinese Vice Premier Li Keqiang delivers a speech in the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 28, 2010. (Xinhua/Xie Huanchi)

In a keynote speech delivered at the annual meeting of the World Economic Forum in the eastern Swiss ski resort of Davos, Li said the theme of the meeting "Rethink, Redesign, Rebuild" embodies the spirit of cooperation and innovation to discuss means of world economic development in the post-crisis era.

He introduced the measures China had taken to deal with the international financial crisis, its achievements and China's intended follow-up economic policies.

The vice premier said the crisis did not change the fundamentals and long-term positive trend of China's economic development.

"Last year, we acted with resolve and confronted challenges head-on, and succeeded in ensuring steady and fast economic growth. As we draw plans for this year, we are confident that we can stay on top of the complicated situation and maintain steady and fast growth of the Chinese economy," said Li.

"Looking ahead, we are well positioned to achieve long-term, fast and steady economic growth."

China needs to follow a scientific outlook on development -- accelerating essential transformation of economic growth pattern, intensifying strategic adjustment of economic structure and endeavoring to explore new development models, he told the world's leading business executives and political leaders.

As a responsible and big developing country, China will stick to its unswerving path of peaceful development and mutually beneficial opening-up strategy, work together with other countries to promote the building of a harmonious world with sustained peace and common prosperity, he said.

The international community had scored initial achievements by working together to cope with the financial crisis, which struck over a year ago, he said.

Countries, whose fates are closely connected with each other, should further share responsibility and enhance cooperation under the complicated situation.

Chinese Vice Premier Li Keqiang delivers a speech in the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 28, 2010. (Xinhua/Xie Huanchi)

Li laid out a five-point proposal regarding world economic recovery and sustained development in the post-crisis era.

"First, we should continue to work together and prevail over the crisis. In a globalized world, the economies of all countries are interdependent and mutually reinforcing," said the Chinese vice premier.

The policies of one country can well impact those of others. Only when global economic recovery is achieved can the recovery of national economies be secured, he said.

The recent concerted responses by various countries have reduced the severe impact of the international financial crisis and prevented the occurrence of a serious recession, he said.

The crisis is not over yet and the foundation for economic recovery is still weak. Continued cooperation among countries is needed to avoid twists and turns and reduce risks in the course of recovery, said Li.

"Second, we should promote more open market," Li said. The international community should firmly fight protectionist practices, translate commitments into real actions and continue to advance trade and investment liberalization and facilitation, he added.

"Third, we should promote balanced development of the world," said Li. Efforts should be made to strengthen South-South cooperation and North-South cooperation, improve international mechanisms to promote balanced development, scale up assistance to developing countries and realize the UN Millennium Development Goals on schedule so as to deliver the benefits of development to people in all countries.

"Fourth, we should jointly tackle major challenges. This is our urgent task if we want to ensure sound recovery and sustained development of the world economy," he said.

The international community should coordinate actions to meet global challenges like climate change, energy security, food security, public health security and major natural disasters, he said.

"Fifth, we should improve the structure of global governance," Li said. It is universally recognized that there is a need to improve current structures and develop a more fair and efficient structure of global governance that reflects changes in the global political and economic landscape.

The principle of equal participation and inclusive cooperation should be followed in improving global governance. It is imperative to raise the voice and representation of developing countries, said Li.

Chinese Vice Premier Li Keqiang delivers a speech in the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan. 28, 2010. (Xinhua/Xie Huanchi)

A country's right to choose its own development model should be respected, and the primary role of the United Nations and relevant agencies and the constructive role of the Group of 20 should be given a better play, he said.

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