Chinese Vice Premier talked about globalization and multilateralism at Davos

At the World Economic Forum Annual Meeting 2025, held in Davos, Switzerland, Chinese Vice Premier Ding Xuexiang delivered a speech outlining the country’s stance on global governance, economic cooperation, and sustainable development. He emphasized the need for a resilient and inclusive global economy.

Ding acknowledged the significant contributions made by Chinese President Xi Jinping at the same venue eight years prior, when Xi outlined China’s commitment to globalization, multilateralism, and a shared future for humanity. He called for the international community to build on these principles and address current challenges.

In his speech, Ding highlighted several key recommendations:

1. Universal economic globalization: Promote an inclusive global economic system that benefits all countries through mutual cooperation.
2. True multilateralism: Uphold the United Nations-centered international system and ensure equal participation and rights for all countries.
3. New drivers for global development: Foster digital connectivity, scientific innovation, and the equitable distribution of technological achievements.
4. Addressing global challenges: Collaborate on climate change, food security, and energy transition through the Global Development, Global Security, and Global Civilization Initiatives.

Ding also provided insights into China’s economic trends, including:

• High-quality development: Transition from traditional to new growth drivers, with a focus on emerging industries and green technologies.
• Green and low-carbon transition: Accelerate the development of a low-carbon economy through extensive new energy industrialization.
• Reform and opening up: Strengthen the socialist market economy, enhance resource allocation efficiency, and open up further to foreign investment.

Following his speech, Ding engaged in discussions with prominent international figures, including Klaus Schwab, Aleksandar Vucic, Pham Minh Chinh, Daren Tang, and Siemens, ABB Group, and Blackstone executives. These interactions underscored the international community’s positive outlook on China’s economic and political strategies.