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Full Text of President Xi's Speech at Opening Ceremony of BRICS Business Forum
  ·  2017-09-04  ·   Source:
How should we get through this stage? Growth rate alone is not the answer. Instead, we should, on the basis of our current conditions and bearing in mind the long-term goal, advance structural reform and explore new growth drivers and development paths. We should seize the opportunity presented by the new industrial revolution to promote growth and change growth model through innovation. We should pursue innovation-driven development created by smart manufacturing, the "Internet Plus" model, digital economy and sharing economy, stay ahead of the curve and move faster to replace old growth drivers with new ones. We should eliminate impediments to economic development through reform, remove systemic and institutional barriers, and energize the market and the society, so as to achieve better quality, more resilient and sustainable growth. 

Despite different national conditions, we BRICS countries are at a similar development stage and share the same development goals. We should jointly explore ways to boost innovation-driven growth. This requires us to improve macroeconomic policy coordination, synergize our respective development strategies, leverage our strengths in terms of industrial structure and resources endowment, and create value chains and a big market for shared interests, so as to achieve interconnected development. Basing ourselves on our own practices of reform and innovation, we should blaze a new path which may also help other emerging market and developing countries to seize opportunities and meet challenges. 

Economic cooperation is the foundation of the BRICS mechanism. With this focus in mind, we should implement the Strategy for BRICS Economic Partnership, institutionalize and substantiate cooperation in various sectors, and continue to enhance the performance of BRICS cooperation. This year, we have made progress in the operation of the New Development Bank and Contingent Reserve Arrangement, and in e-commerce, trade and investment facilitation, trade in services, local currency bond issuance, scientific and technological innovation, industrial cooperation and public-private partnership, thus expanding and intensifying economic cooperation. We should continue to implement agreements and consensus already reached and better leverage the role of current mechanisms. We should also actively explore new ways and new areas of practical cooperation and strengthen our ties to ensure durable and fruitful BRICS cooperation. 

Secondly, we BRICS countries should shoulder our responsibilities to uphold global peace and stability. Peace and development underpin and reinforce each other. People around the world want peace and cooperation, not conflict or confrontation. Thanks to the joint efforts of all countries, global peace has reigned for more than half a century. However, incessant conflicts in some parts of the world and hotspot issues are posing challenges to world peace. The intertwined threats of terrorism and lack of cybersecurity, among others, have cast a dark shadow over the world. 

We BRICS countries are committed to upholding global peace and contributing to the international security order. This year, we have held the Meeting of High Representatives for Security Issues and the Meeting of Ministers of Foreign Affairs/International Relations. We have put in place the regular meeting mechanism for our permanent representatives to the multilateral institutions, and convened the Foreign Policy Planning Dialogue, the Meeting of Counter-Terrorism Working Group, the Meeting of Cybersecurity Working Group, and the Consultation on Peacekeeping Operations. These efforts aim to strengthen consultation and coordination on major international and regional issues and build synergy among the BRICS countries. We should uphold the purposes and principles of the UN Charter and basic norms governing international relations, firmly support multilateralism, work for greater democracy in international relations, and oppose hegemonism and power politics. We should foster the vision of common, comprehensive, cooperative and sustainable security, and take a constructive part in the process of resolving geopolitical hotspot issues and make our due contributions. 

I am convinced that as long as we take a holistic approach to fighting terrorism in all its forms, and address both its symptoms and root causes, terrorists will have no place to hide. When dialogue, consultation and negotiation are conducted to create conditions for achieving political settlement of issues such as Syria, Libya and the Palestine-Israel conflict, the flame of war can be put out, and displaced refugees will eventually return to their homes. 

Thirdly, we BRICS countries should contribute to enhancing global economic governance. Only openness delivers progress, and only inclusiveness sustains such progress. Due to sluggish global growth in recent years, such issues as uneven development, inadequate governance and deficit of fairness have become more acute, and protectionism and inward-looking mentality are on the rise. The global economy and global economic governance system, having entered a period of adjustment, face new challenges. 

We should not ignore problems arising from economic globalization or just complain about them. Rather, we should make joint efforts to find solutions. We should work together with other members of the international community to step up dialogue, coordination and cooperation and contribute to upholding and securing global economic stability and growth. To this end, we should promote the building of an open global economy, advance trade and investment liberalization and facilitation, jointly build new global value chains, and rebalance economic globalization. Doing so will bring benefits to people across the world. We five countries should open more to each other, expand converging interests in this process, take an inclusive approach and share opportunities, so as to create even brighter prospects for growing the economies of the five countries. 

The development of emerging market and developing countries is not intended to move the cheese of anyone but to make the pie of the global economy bigger. We should join hands to steer the course of economic globalization, offer more vision and public goods, make the governance model and rules more balanced and inclusive, and improve and reshape international division of labor and global value chains. We should work to reform the global economic governance system to make it commensurate with the reality of the global economic architecture. We should also improve governance rules for the new domains of deep sea, polar regions, outer space and cyberspace, so as to ensure that all countries share both rights and responsibilities. 

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