Source: China Daily    Published: 2017-7-9

BEIJING -- Nearly one year after offering a Chinese remedy for the world`s ailing economy and global governance in eastern China`s lakeside city Hangzhou, President Xi Jinping has promised to champion an open world economy and a multilateral trade regime.

Speaking at the G20 summit in Hamburg Friday, Xi underscored the role of innovation and development in boosting global growth, proposing that G20 members increase cooperation in digital economy and the new industrial revolution, and jointly develop new technologies, industries, business models and products.

He called on the leaders to "work together to promote interconnected growth for shared prosperity and build toward a global community with a shared future."

CHARMING THE WORLD

Xi`s speech came on the first day of G20 summit in Hamburg, which has been designed to shape an interconnected world.

He said the theme of this year`s summit was built on the theme of last year`s summit in Hangzhou: building an innovative, invigorated, interconnected and inclusive world economy.

"What we need to do now is to work together to translate our vision into action," Xi told leaders of the world`s major economies in the port city in northern Germany.

"As the world`s major economies, we should and must lead the way, support the multilateral trading system, observe jointly established rules and, through consultation, seek all-win solutions to common challenges we face." Xi said.

In the past few years, the world has become more and more familiar with Xi conferring with heads of state from across the world as well as leaders of international organizations to offer Chinese solutions and his personal insight on global challenges.

In particular, the Hangzhou G20 summit last year marked China`s shifting role as it transforms from a player in global affairs to a leader of the global agenda -- economically, politically and diplomatically.

With China set to host the 2017 BRICS Summit in Xiamen in September, analysts have noted that the past few years have seen China championing on multiple international stages a holistic approach to global development and governance, which highlights joint, global efforts and acknowledges that domestic well-being relies on the international community at large.

China has become much more confident on the global stage, said Wang Jiugao, professor with Peking University`s School of Marxism.

"Xi Jinping`s words on various occasions show to the world that China is open and responsible, willing to work with the world both as a participant and a leader," Wang said.

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.

CONNECTING THE WORLD

There is an old saying in Chinese -- good roads bring good fortune. In past decades China has been building highways, railroads and ports, and every possible transport to connect every possible place in the country, bringing a large number of people out of poverty.

And now, China is taking this solution to the global stage, building "a community of shared future," headlined by the Belt and Road Initiative.

Named after the historic Silk Road, the Belt and Road Initiative was proposed by Xi in 2013 to chart out new territories for international cooperation.

By linking countries and regions that account for about 60 percent of the world`s population and 30 percent of global GDP, the initiative is a perfect example of China sharing its own wisdom and solutions for global growth and governance.

So far, 68 countries and international organizations have signed agreements with China on Belt and Road cooperation. Total trade between China and other Belt and Road countries exceeded $3 trillion between 2014 and 2016, and Chinese investment in these countries surpassed 50 billion dollars.

In Beijing, all G20 economies were represented at the Belt and Road Forum for International Cooperation in May, which was attended by 1,500 representatives from over 130 countries and over 70 international organizations.

Calling the forum a success, Xi said Friday that the commitment of the Belt and Road Forum was highly compatible with the goals of the G20.

"Guided by a new vision of governance, we built a new platform of cooperation to tap into new sources of growth," the president said.

In an interview with Xinhua, former Chinese Vice Foreign Minister He Yafei said that the Belt and Road Initiative focused more on international cooperation and integration of civilizations.

"It is more about inclusiveness and sharing the benefits, and thus could help counter the current anti-globalization and populist trend ...With the Initiative, globalization will no longer be a privilege only enjoyed by a handful of countries and transnational corporations," He said. "This is our contribution to global governance."

The author is a senior fellow of Chongyang Institute for Financial Studies at Renmin University of China and former vice minister of the Ministry of Foreign Affairs.