Sharing his views: Xi delivering his speech at a conference marking the 70th anniversary of the Five Principles of Peaceful Coexistence at the Great Hall of the People in Beijing. — AP
President Xi Jinping called for the building of “bridges” in the global economy, as Beijing grapples with economic, trade and territorial disputes with neighbours and trading partners.
The world’s second-largest economy will never leave the road of peaceful development, Xi told a conference to commemorate China’s guiding principles for foreign affairs, first formulated 70 years ago.
It will also not become a “strong” state seeking to dominate others, Xi told an audience that included Myanmar’s former president, Thein Sein, and Nong Duc Manh, the former general secretary of the Vietnamese Communist Party.
“Facing the history of peace or war, prosperity or unity or confrontation, more than ever before, we need to carry forward the spirit and connotation of the Five Principles of Peaceful Coexistence,” Xi said.
These first figured in a 1954 pact struck with regional rival India over their Himalayan border.
Even so, Indian officials were absent from the front row of the audience reserved for guests of honour.
Since the 1950s, China’s ruling Communist Party has gone from not being recognised by the United Nations to boasting the biggest diplomatic footprint in the world and presiding over an US$18.6-trillion economy.
Beijing now signals a desire for other countries to see it as a diplomatic heavyweight.
After China brokered an unexpected detente between Iran and Saudi Arabia last year, China’s top diplomat, Wang Yi, said the country would continue to play a constructive role in handling global hotspot issues.
In his speech, Xi hailed China as a force for global peace, saying Beijing would continue to play “constructive roles” in international conflicts such as Gaza and Ukraine.
China has been criticised by Ukraine’s allies for failing to condemn Russia’s 2022 invasion and accused of favouring Moscow. Beijing insists it is a neutral party.
In the Middle East, China has advocated for decades for a two-state solution to the Israel-Palestinian conflict.
In his speech, Xi called for greater cooperation between China and developing countries.
“In the era of economic globalisation, what we need is not to create chasms of division, but to build bridges of communication, and not raise the iron curtain of confrontation but to pave the way of cooperation,” Xi said.
“Engaging in small yard, high-wall decoupling practices is to move against the tide of history,” Xi said yesterday.
“It will only harm the common interests of the international community.”
Xi also said that the ruling Communist Party was planning “major” reforms.
Chinese policymakers have struggled to reignite growth since the end of strict pandemic health curbs in late 2022.
The world’s second-largest economy is beset by a debt crisis in the property sector, persistently low consumption and high youth unemployment.
Xi said policymakers “are planning and implementing major measures to further deepen reform in a comprehensive manner”.
“We will ... form a more market-oriented, legal and international business environment,” he added.
“China’s door will only open wider and wider, and will never be closed.”
Xi has touted the promise of significant reform several times this year, and the government has already enacted measures in key sectors such as real estate to try to address critical issues.
On Thursday, it was announced that the delayed Third Plenum – a meeting historically watched for signs on economic policy direction – will take place in Beijing in mid-July. — Agencies
