Speaker his excellency president of the peoples republic of china iso delighted you could join us here and davos with the invitation night issued over one year ago. President xi a warm welcome to you and your highlevel delegation to your first davos visit even if the temperatures outside are freezing by your presence as a special significance and as the First Chinese president to address the Civil Society leaders to come on as an important moment in time so to make impressive achievements to of the industrys to reform and open up. Under your leadership there is an ever increasing of Global Affairs from Climate Change and i would like to congratulate you to be marked by great uncertainty into continue the responsible leadership with confidence and stability. Thank you for your countries continuous support of civil reform. Ladies and gentlemen, his excellency xi jinping the president of the peoples republic of china. [applause] translator for the state and the government at bbn your sponsors, head of International Organizations organizations, ladies and gentlemen and indifference. Empty your friends i am delighted to come to davos. This most beautiful town in the alps is a window to look at the Global Economy. People from around the world come here to exchange 80 is which will broaden the vision. This makes the annual median a costeffective brainstorming even to that i would like to call schwab economics. [laughter] [applause] so the chinese celebrate the chinese new year. Around this time people visit their relatives and friends. Into say greetings to the overall world. It was the best of times it was the of worst of times these are the words used by a dickens and on the of one hand of science and technology followed as never before on the other hand however those challenges like terrorism and refugee and unemployment have added to the uncertainties of the of world. Many people are wondering what has gone wrong with the of world . But some people blame economic globalization. And the chaos in the world. With uh globalization founded by a highly bob the and the arabian nights. But now to become the pandoras box the International Community and to wish to address the economy and economic globalization. So the point i will at to make because the ways of north africa for several Million People and small children have lost their lives while crossing the sea and is heartbreaking to was. That is the turbulence that has created this problem. To make peace and promote reconciliation. The International Financial crisis is not the inevitable outcome but rather the consequence of Financial Capital there is no point in blaming globalization that is simply not the case in the global as sole globalization is the result of the natural of confidence for of technological advances. Mitt is not traded by any individual or any country. To power the Global Growth descant of that movement of goods and capital. The we should recognize the economically is a doubleedged sword and when under pressure it is hard to make the Global Economy bigger that this will strain the relations between capital and labor and equity. And those that have felt the plunge. The voices against of globalization of the in the process of globalization and we need to take that seriously. For the chinese fit will tend to say if the ste. Dates grow on thistles and thorns profile fitting is perfect in the world. Well it is fair to see the full picture if he will view and at as useless from did this true economic globalization to write off the economic globalization but we should adapt and to glide to that globalization. To the impact to deliver the benefits to benefits and all nations there was a time talk about economic globalization were not sure if they should join in the dead buteo but came to the conclusion for tuberose the economy to have the courage in the Global Market and then to explore the new girlfriend so they took a step forward to raise the Global Market. And then to enemy have learned how to swim in the process. If has proven to be the right choice. Whether you like it or not the Global Economy faces a big ocean you cannot escape from. And runs counter to the american trend. Problems are not to be feared but then refusing to face up to the problem and not know what to do about it. In the faces of the economic globalization the right thing to do is to seize every opportunity and make of the challenges to chart the right course for economic globalization. At the meeting in late 2016 to make that process of economic globalization to be more invigorated and sustainable. We should act proactively and manage as a process to have a positive impact. And the dallas the process of economic globalization. We should follow the general trend and embark on the right pathway integrated into economic and globalization of. We should strike a balance between efficiency and equity of the groups of people. This is the responsibility. [applause] full of love of girlfriend expect less from us. Ladies and gentlemen. At present to steer the Global Economy it has remained sluggish for quite some time between the south and the north would be. End with those three Critical Issues have not been effectively addressed first it makes it difficult to sustain steady Global Growth. Now at the slowest pace in several years global trade is even slower than that to prove ineffective of structural reform it is now in a period of moving to new growth to allow the further weakening. Of and with at intelligence. In the new path remains elusive. Second come inadequate Global Economic makes it difficult to adapt. I was recently told by an atom lagarde and jim beam to 80 percent of Global Growth want in the past few decades the economic landscape has changed they have not then an adequate but the Global Industry landscape and the supply chains are taking shape. But tranten and investment to keep pace with these developments for resulting in in the acute problems such as the fragmentation. The Global Financial market needs to be more resilient cuff the that fails to meet the new requirement to resume yield of problem of the International Market and the asset bubble. Third, and even Global Development makes it difficult to meet expectations for a better life. Dr. Schwab observes in his book that this round of revolution will have extensive and far reaching impact particularly a possible widening gap between return on capital and return on labor. The richest 1 percent more than the remaining 99 combined. Inequality and Income Redistribution are worrying. Over 700 Million People are still living in extreme poverty. So for many families to have warm houses, in the food, secure jobs and enough food, it is a distant dream. This is the biggest challenge facing the world today. What is behind the social turmoil in some countries. All of this shows there are problems with Global Growth in the developmental model. These problems must we addressed. The founder of the red cross said our real enemies not to other countries but hunker, poverty, hunger and prejudice. And we need to have division to go after these problems and have the courage to take action. First we should develop a dynamic innovation growth model. The fundamental problem plaguing the economy that innovation is the primary force and unlike the previous industry in this exponential. We need to relentlessly pursue innovation and have the courage to innovate and reform with growth and development. Keep in mind that she 20 leaders from as the key driver from the g20 leaders for the Global Economy. Fatfree should foster a philosophy of the debate whether there should be more stimulus or easing following the multi pronged approach and the underlying problems and adopt new policy measures to create more space for growth. With a new growth model and seize the opportunities presented with the digital economy. We should be the challenges of Climate Change and the aging population. We should also address the negative impact of automation of stops jobs for elf for a fleeting new industries for models of business we should always find ways to create new jobs to restore confidence and hope to our people. Second, we should pursue a wellconnected approach for a model of cooperation. Today to become a closeknit Community Countries have become mutually dependent to enjoy the right and at the same time to have their interest to pursue their own interest at the expense of others. We should commit herself to an open and global e economy. To share the opportunity and interest to open up and achieve those outcomes. We should not develop the habit of retreating to a the harbor during the storm because then we will never get to the other shore of the ocean. Five we must redouble our efforts and to enable all countries to have interconnected growth in to promote trade and investment. Wind and rain may be kept outside, so are light and air. Translator no one will emerge as a winner in the trade war. [applause] [speaking in native tongue]. Translator we should give fair and active ball governance in keeping with time at the times. People with great ambition tend to government of institutions. There is a growing call from the International Community for reforming the Global Economic system which is a pressing task. Only when it adapts to new dynamics in the architecture can the Global Governance sustain growth. Countries big or strong, strong or weak, rich and poor are all members of the International Community. As such as such they are entitled to participate in decisionmaking, enjoy rights and to fill other obligations on equal basis. Emerging markets markets and developing countries deserve greater representation and a voice translator the 2010 quarter reform has entered into force and if momentum should be sustained, we should adhere to uphold the authority of the institution we should honor promises and abide by rules. One should not select or bend rules as he sees fit. Translator its a and achievement in keeping with the underlying trend of Global Development. They should stick to it instead of walking away from it as this is a responsibility we must assume for future generations. [applause] translator we should develop a balanced equitable and intrusive involvement model. It should be pursued for common good. Development is ultimately for the people. They want to achieve more balanced development and ensure people have equal access to opportunities and share in the benefits of development. It is crucial to have a sound Development Philosophy and model and to make developments equitable, effective and balanced. Translator we should foster an environment that supports development. It should give priority to poverty, unemployment, the widening income gap in the concerns of the disadvantage to promote. It is important to protect the environment while pursuing the progress [inaudible] the 2030 agenda should be implemented to realize Balance Development across the world. [applause] translator the chinese adage victory is insured when people pool their sense and success is insured when people put their head together. As long as we keep to the goal of building a community of shared mankind and work handinhand to review our responsibilities and overcome difficulty, we will be able to live a better world and have a better life for our people. China has become the worlds secondlargest economy. The right path leads to the right future. China has come this far because the Chinese People they have placed development. This is based on reality china has succeeded in in barking in the Development Past by joining on both the wisdom of its civilization and the practices of other countries in those east and west. Exploring this path, china refuses to stay insensitive to the changing time or blindly follow others. All roads lead to rome. No country should view its own Development Past is the only liable one. Still it shouldnt impose its own Development Path on others. This is a path that puts peoples interests first. China follows a people oriented Development Philosophy and is committed to bettering the lives of these people. Translator development is of the people, by the people and for the people. China pursues the goal of common prosperity. We have taken major steps to alleviate poverty and lifted 7 Million People out of poverty. Good progress is being made to finish building a society of prosperity in all respects. This is a path of pursuing reform and innovation. China has tackled difficulties on its way forward. China has demonstrated its ability to take home issues and remove institutional issues standing in the way. We can unleash productivity and social vitality. Building on progress of 30 odd years of reform, we have introduced more than 1200 reform measures of the past four years injecting powerful impotence into chinas development. China is committed to a fundamental policy of opening up and pursues an opening up strategy. Chinas development is both external and internal oriented. China shares more of its Development Outcomes with other countries and people. Chinas Outstanding Development achievements have vastly improved Living Standards of these people and its a blessing to both china and the world. Translator such achievement in development over the past decade of themselves to the hard work and perseverance of the Chinese People. A quality that has defined the chinese nation for several thousand years. We chinese know only too well that there is no such thing as a free lunch in the world. No pie will fall from the sky. For a big country with over 1. 3 billion people, advancement can be achieved only with the dedication and efforts of its own people because we cant expect others to delivered development to china and no one is in a position to do so. When assessing their development , one cannot only see the benefits the Chinese People have gained but also how much effort they have put in. Not just for achievement, but also what contribution it has made to the world. Then, while we reach a conclusion about chinas development. Between 1950 and 2015, despite the level of development and Living Standard china provided more than 400 billion foreign assistance. They undertook over 5000 foreign assistance projects including nearly 3000 complete projects and we have had over 11000 training workshops for over 260,000 people from other developing countries. Since reform and opening up, china has attracted over 1. 7 trillion made over one point to trillion u. S. Dollars of direct investments, making huge contribution to Global Economic growth. Since the outbreak of the International Financial crisis china contributed to over 30 of Global Growth every year on average. All these figures are among the highest in the world. These figures speak for themselves. Chinas development is an opportunity for the world. China has benefits from economic [inaudible] but also contributed to it. Growth in china has been a sustained and powerful engine for Global Economic stability. The interconnected development of china and in large number of other countries has made the World Economy more balanced. Chinas remarkable achievements in Poverty Reduction have contributed to more inclusive Global Growth and chinas continuous progress in reform and opening up has meant much momentum to an open World Economy. We chinese know only too well what it takes to achieve prosperity so we applaud the achievement by others and we wish them a Better Future we are not jealous of others success and we will not complain about others who have benefited so much from the great opportunities presented by chinas development but we will open our arms to the people of other countries and welcome them aboard the expressed train of chinas development. [applause] ladies and gentlemen, dear friends i know you are all closely following chinas Economic Development and let me give you an update on that. Chinas economy has entered what we call a new normal. Major changes are taking place in terms of growth weight, development model, economic sector and the drivers of growth the economic fundamentals sustaining sound development remain unchanged. Despite a sluggish Global Economy chinas economy is expected to grow by 6. 7 in 2016 it still among the highest in the world. Chinas economy is far bigger in size than in the past and now generates more than it did with double digit growth in the past. Household