By Zhang Maorong, researcher with China Institute of Contemporary International Relations; cartoon drawing by Liao Tingting

Chinese President Xi Jinping on Tuesday delivered a keynote speech at the opening plenary of the 2017 annual meeting of the World Economic Forum in Davos, Switzerland.

In his address, Xi pointed out the difficulties and problems of the global economy, clarified that many of the problems troubling the world are not caused by economic globalization. He also offered “Chinese solutions” for and injected “Chinese vitality” into the sluggish global economy. His address won warm applause. Xi's presence with Chinese wisdom and experience at Davos has injected confidence into global growth. In his address, he elaborated the prospects of the economic globalization and analyzed the three root causes of the sluggish global economy. He stressed the importance of forging new models of global growth, cooperation, governance and development, charting the course for world economic recovery. The Chinese president also described broad prospects for the long-term sustainable growth of China’s economy, explained the profound connotation of “the road is decisive to destiny”, unfolded the opportunities, which are offered by the Belt and Road Initiative proposed by China, delivering Chinese confidence.

In his significant speech, he offered his wisdom and insight on the world economy and globalization development, reflecting China's responsibility and aspiration as a responsible major power.

From Hangzhou to Lima, then to Davos, what President Xi advocated is guiding the global growth and governance, injecting Oriental vitality into the surging world.

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