Key takeaways from Vice Premier Ding Xuexiang's speech at Davos

Chinese Vice Premier Ding Xuexiang delivered a speech at the World Economic Forum (WEF) Annual Meeting 2025 in Davos, Switzerland, on Tuesday, urging the global community to uphold multilateralism and promote open and inclusive development.

Ding emphasized that the world is undergoing rapid and unprecedented changes, with global governance facing profound adjustments.

Noting that human society has once again come to a critical crossroads, Ding said: "We should firm up confidence, uphold solidarity and cooperation, and forge ahead hand in hand, despite high winds and choppy waters, to build a community with a shared future for mankind. We should provide more stability and certainty for the world, and build a just world of common development."

Four recommendations promoting globalization

The vice premier outlined four key recommendations. First, he called for the international community to promote universally beneficial and inclusive economic globalization, and try to find a win-win and all-win solution, one that is based on mutually beneficial cooperation, through communication and coordination.

"We should not only make the pie of economic globalization bigger, but also distribute it better," he said.

He also called on the global community to uphold and practice true multilateralism, firmly uphold the UN-centered international system, pursue the vision of global governance featuring extensive consultation and joint contribution for shared benefit, and ensure equal rights, equal opportunities and equal rules for all countries in international affairs, and foster an open, inclusive and nondiscriminatory environment for international economic cooperation.

Ding continued to say that the international community should jointly foster new drivers and strengths for global economic development, enhance connectivity in the digital age, promote international cooperation on scientific and technological innovation, uphold the principle of harnessing scientific and technological achievements for the benefit of all humanity, and thus let more countries get on board the fast train of digital economic development.

He also called on the international community to jointly tackle major global challenges, such as climate change, food and energy security, and work together to advance the China-proposed Global Development Initiative, Global Security Initiative and Global Civilization Initiative, thereby gathering formidable strength to overcome difficulties and challenges.

Three trends shaping China's economy

Ding also shared insights into the key trends shaping China's economy. He said that the first major trend is that high-quality development is making solid progress in China, and there is evident progress in the transition from traditional growth drivers to new ones, emerging and future industries are booming and new quality productive forces are taking shape at a faster pace.

He noted that this year, China will further intensify macro policies, and adopt a more proactive fiscal policy and an appropriately accommodative monetary policy, so as to effectively pursue higher-quality economic growth and appropriately increase economic output.

The second major trend is that green and low-carbon transition is accelerating across the board, he said.

China has built the world's largest and most complete new energy industrial chain. "No matter how the international landscape may evolve, China's determination and action for proactive climate response will not change," he said.

"We will make tireless efforts to reduce carbon emissions and mitigate pollution while expanding green transition and promoting economic growth."

He continued to say that the third major trend is that reform and opening up is moving up to a higher level. "We will build a high-standard socialist market economy, foster a fairer and more dynamic market environment, and make resource allocation as efficient and productive as possible," he said, adding that China's door of opening up will not be closed and will only open even wider, and the business environment in China will only get better.

He welcomed foreign enterprises to invest and do business in China, and achieve greater success in sharing China's opportunities.

(With input from Xinhua)