Han Yongwen: Enhance the Economic and Technical Cooperation among Countries along the Belt and Road

Source: World Finance Forum (WFF)

Published: 2021-06-10

On May 12, 2021, the Belt and Road Forum for International Financial Cooperation and the 4th World Finance Forum (WFF) was successfully held in Xi’an, China. It was co-hosted by the World Finance Forum and the People’s Government of Shaanxi Province, organized by the Financial Supervision and Administration Bureau of Shaanxi Province and Shaanxi Provincial Convention and Exhibition Center, and co-organized by Shaanxi Financial Asset Management Co., Ltd. Han Yongwen, Vice Chairman of China Center for International Economic Exchange, Senior Advisor   of World Finance Forum, was invited by the WFF to deliver a keynote speech at the opening ceremony.

Han Yongwen: Vice Chairman of China Center for International Economic Exchange,, Senior Advisor of World Finance Forum)

Han Yongwen noted that as repeatedly stressed by the General Secretary Xi Jinping, the new development paradigm currently underway is by no means based on a closed-door domestic economic circle, but on the open and mutually reinforcing domestic and international circulations. Adhering to its basic state policy of opening up to the outside world, China has been pursuing mutually beneficial cooperation to achieve win-win outcomes. Entering a new development stage in the new era, the Chinese government has proposed to develop a higher-standard open economy, play an active role in global economic governance and public goods supply, and build a broad community of shared interests.

Han said that because of the effective response to COVID-19 pandemic, China has brought huge opportunities for the economic recovery in Asia, especially the industry chain development and the supply chain adjustment and restructuring in the region, and has built a new basis for Asia’s development through cooperation which features extensive consultation, joint contribution and shared benefits. We should capitalize on these opportunities and leverage Asia’s rapid development to promote the economic and trade exchanges and technology and innovation cooperation among countries along the Belt and Road, and better align their industry chain development with supply chain development.

Han stressed that in the post-pandemic era, the global industry chain will experience regionalization and involution. Asian economies should strengthen multilateral cooperation mechanisms and work together to promote inclusive and sustainable economic development. As the largest economy in Asia, China will play a greater role in connecting developed and developing economies and linking upstream and downstream industry chain.