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Monday, November 16, 2015, 09:29

Xi for innovation, open global economy

By Xinhua

Xi for innovation, open global economy
Chinese President X i Jinping enters a hall to pose for a photo of leaders of BRICS meeting prior the G-20 Summit in Antalya, Turkey, Nov 15, 2015. (AP Photo / Alexander Zemlianichenko)

ANTALYA, Turkey - Chinese President Xi Jinping on Sunday proposed strengthened coordination on macroeconomic policy, innovation-driven development and an open world economy as prescriptions for boosting global growth.

In a speech delivered at the first session of a Group of 20 (G20) summit, Xi said the G20 should work to maintain a stable economic growth in the short term, while seeking to inject new impetus into the world economy in the long run.

This year's G20 summit, the 10th of its kind since 2008, comes as the world economy is still being held back by slow and uneven recovery and shortfalls in demand, investment and infrastructure.

Themed with "collective action for inclusive and robust growth," the summit, held in the Turkish resort city of Antalya, is expected to enhance global confidence and ensure strong, sustainable and balanced growth for the world economy.

"The current crisis is far more complex than any of the previous crises, and it can not be fixed overnight," said Xi, noting that a multi-pronged approach is required to overcome the crisis.

The Chinese president said every country should take measures to manage their domestic economic situation well, and join hands to face challenges.

To achieve that goal, Xi raised four proposals, including strengthening communication and coordination on macroeconomic policies; promoting reform and innovation to enhance growth potential; building an open world economy to bring out vigor in international trade and investment; and implementing the 2030 Agenda for Sustainable Development to inject strong impetus into equitable and inclusive development.

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