Chinese vice president injects note of confidence in Davos

Chinese Vice President Li Yuanchao was giving a special address injecting confidence into global leaders of politics and businesses at the annual meeting of World Economic Forum in Davos, Switzerland on Thursday. [Photo by Fu Jing/China Daily]

Chinese vice president Li Yuanchao injected a note of confidence into the mood of global leaders in politics and businesses meeting in Davos, saying his country will maintain medium- and high-speed growth in coming five years to further contribute to the global economy after achieving 6.9 percent GDP growth in 2015. He gave a special address on the second day of annual meeting of World Economic Forum and pledged that China will use its G20 presidency to mobilize the global economic players to tap into driving growth forces of the economy in the medium and long-term.

“China has achieved stable economic growth last year and is still the leading contributor to the global economy, which has not been in good shape after eight years of financial crisis,” Li said. Li gave detailed figures about China’s job creation, steady enthusiasm in opening businesses, rapid growth of high-tech companies, trade, overseas investment, rising outbound numbers of tourists and purchasing power, in a bid to convince the audiences that China is still in good shape economically. When chairing the special address, World Economic Forum Chairman Klaus Schwab responded that Li’s remarks and figures have convinced him that China should be trusted as a steady contributor of global economy, in spite of a series of shocks in stock markets since the middle of last year.

Li said last year, the growth part of China’s economy has reached 500 billion dollars on the basis of an existing sizable economy of more than 10 trillion dollars.