Chinese President Xi Jinping said sustainable development is the key to resolving current problems as the world encounters rising anti-globalization and hegemony, calling on efforts to uphold multilateralism, shared growth and better global governance.

Xi said the UN's sustainable development agenda shares similar goals with China's concept of building a community of a shared future for mankind. Peace and development are still the main themes of the world, and national interests of different countries are now more integrated than ever, Xi said at the St. Petersburg International Economic Forum on Friday, urging great efforts to counter anti-globalization and hegemony.

Speaking earlier at the plenary session, Russia's President Vladimir Putin said the existing model of global economic relations is now in crisis, and some countries have switched from the free market to trade wars and protection.

Putin stressed that the world trade system must be demilitarized and sanctions must be eased. He went on to say that U.S. efforts to foist their dominance on others are recipes for endless conflicts and wars. "It's a battle without rules," Putin said.

"World trade must adapt to the new reality and adopt best practices."

Echoing Putin, Xi said China will continue to open, create a favorable business environment and defend the multilateral system.

Xi asked countries to join the China-proposed Belt and Road Initiative. He said the initiative is a public good for the world and has earned global admiration. China wants to share its technological know-how, in particular 5G, as well as its economic model, he went on to say, aiming to build a community of a shared future for mankind. 

China is committed to promoting sustainable development, UN 2030 agenda and South-South cooperation and will work with all countries for a more peaceful and prosperous world, the Chinese president said. 

Speaking of bilateral ties, Xi admired St. Petersburg for its tradition and history. He said Russia is one of China's largest partners in all areas, and the two countries have agreed to link Eurasian Economic Union with the Belt and Road Initiative. 

The Chinese president laid out three areas where China and the rest of the world can work together in exploring a new path of sustainable development.

Firstly, we should stick to the principle of extensive consultation, joint contributions and shared benefits, and work together to create an open and pluralistic world economy, said Xi.

China will continue to expand opening-up, relax market entry rules and nurture a market environment featuring fair competition, he said.

China will push ahead with the process of economic globalization, uphold the multilateral trade system, endeavor to solve the imbalance and inequality in global economic development, and create more opportunities for developing countries, he added.

Secondly, we should stick to the practice of putting people first, and strive to build a happy society that is inclusive and benefits all, said the Chinese president.

China is willing to boost communication and cooperation with other countries in areas such as poverty reduction and social security to bring a greater sense of achievement, happiness and security to all peoples, Xi told the audience.

Thirdly, we should stick to the pursuit of green development and try to build a beautiful homeland with harmonious coexistence between humanity and nature, Xi said.

China, he added, will join hands with other parties to address urgent issues like climate change and biodiversity protection, and implement global consensus in areas such as the Paris Agreement.

(With inputs from Xinhua)

(Cover: Chinese President Xi Jinping delivers a speech during a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 7, 2019. /CGTN Photo)