Chinese VP addresses opening ceremony of New Economy Forum

Chinese Vice President Wang Qishan on Thursday addressed the opening ceremony of the 2019 New Economy Forum, stressing the importance of innovation to development.

Chinese Vice President Wang Qishan addresses the opening ceremony of the 2019 New Economy Forum in Beijing, capital of China, Nov. 21, 2019. [Photo/Xinhua]

"Innovation is the primary driving force for development," Wang said.

While recognizing the unprecedented global economic and trade prosperity, Wang noted multiple common threats facing mankind, including imbalanced and insufficient development, rising protectionism, unilateralism and populism.

Historical experience has proven time and again that only reformers and innovators could survive the difficulties and challenges, he stressed.

Under the leadership of the Communist Party of China, the Chinese people have made great achievements and embarked on the path of socialism with Chinese characteristics that suits the country and its people, Wang said.

"We are unswervingly committed to the path we have chosen and have confidence, patience and determination in realizing the great rejuvenation of the Chinese nation," Wang said.

China will always stay committed to the path of peaceful development, Wang said, noting that the Chinese people are willing to join the people of the rest of the world in building a community with a shared future for humanity.

Wang urged upholding the international system with the United Nations at its core and building a more fair and reasonable global governance system.

Efforts should be made to create an open and win-win cooperation model and a balanced and inclusive development model, so that people all over the world can benefit from the fruits of economic globalization, Wang said.