Promoting open world economy emphasized

Premier Li Qiang has called for commitment to building an open world economy and urged opposing unilateralism and protectionism.

When addressing the plenary sessions of the 17th BRICS Summit, which were held in Rio de Janeiro, Brazil, on Sunday and Monday, Li also emphasized that the current international economic and trade order, along with the multilateral trading system, is facing severe challenges, and the global economic recovery remains arduous.

Against this backdrop, greater BRICS cooperation should uphold and practice multilateralism, promote the establishment of a fair and open international economic and trade order, pool the strength of the Global South, and make greater contributions to global stability and development, he said.

He also underlined the need to promote trade and investment liberalization and facilitation, and maintain the stability and unimpeded operation of industrial and supply chains.

Highlighting the China Center for Cooperation on Development of Special Economic Zones in BRICS Countries, which was established in March in Hangzhou, Zhejiang province, Li said that China is willing to work with all parties to jointly build a cooperation network.

On boosting international financial cooperation, he said that China supports the expansion and strengthening of the New Development Bank, and welcomes qualified Global South countries to invest in China's financial market.

The premier urged progress in the World Bank's equity review and the International Monetary Fund's quota share adjustment to increase the representation and voice of developing countries.

Li also called for efforts to explore new frontiers for economic growth, highlighting cooperation in emerging fields such as the digital and green economies. Artificial intelligence technologies should be leveraged to empower all industries and benefit every household, he said.

The premier announced that under the framework of the Global Development Initiative, China plans to offer 200 training programs on the digital economy and artificial intelligence for Global South countries over the next five years. China welcomes all countries to attend the World Artificial Intelligence Conference, which will be held in Shanghai from July 26 to 28, he said.

Highlighting the risks of mounting uncertainties in the global climate, environment and health sectors, Li said that the international community should forge a broad consensus, take proactive actions and join hands to tackle common challenges.

He called on the international community to strengthen global synergy in tackling climate change, bring about more tangible outcomes in environmental and ecological protection, and bolster capacity building for public health systems.

The BRICS Leaders' Statement on the Global Governance of Artificial Intelligence and the BRICS Leaders' Framework Declaration on Climate Finance were adopted during the two-day summit.

On the sidelines of the summit, Li met on Monday with Ngozi Okonjo-Iweala, director-general of the World Trade Organization, and said that China stands ready to work with the international community to get the world economy back on track at an early date.

China will, as always, continue to practice and safeguard multilateralism and free trade, actively support the reform and development of the WTO to restore its authority, accelerate the improvement of trade rules, and push for more concrete outcomes of the 14th WTO Ministerial Conference, he added.

China has abundant resources and means to counter adverse external impacts, and is confident and capable of promoting steady and healthy economic development, Li noted.

This year, China has implemented more proactive and effective macro policies, advanced the strategy of expanding domestic demand and launched special initiatives to boost consumption, he said, highlighting the huge demand unleashed by the country's superlarge market of over 1.4 billion consumers.

China will introduce more measures for voluntary and unilateral opening-up, strictly abide by the principles and market rules of the WTO, and continue to share development opportunities with other countries, in order to inject positive energy into the world, Li added.

Okonjo-Iweala said that WTO members should enhance dialogue and cooperation, safeguard the multilateral trading system and promote sustainable development.

The WTO highly appreciates China's long-term support for and assistance to the least-developed countries, and highly values its significant role in the multilateral trading system, she said.

The organization looks forward to working with China and other members to advance WTO reform, foster an open and inclusive trade environment, and create favorable conditions for global trade development and economic recovery, she added.