Countries must safeguard economic globalization for inclusive growth: Premier Li

Countries must safeguard economic globalization to achieve inclusive growth, Premier Li Keqiang said Tuesday.

Chinese Premier Li Keqiang addresses the opening ceremony of the 11th Annual Meeting of the New Champions, also known as the World Economic Forum's Summer Davos session, in Dalian, on Tuesday, June 27, 2017. [Photo: Xinhua]

Li made the remarks at the opening ceremony of the Annual Meeting of the New Champions 2017, also known as Summer Davos, held in the northeastern coastal city of Dalian.

Li said that free trade should be the basis of fair trade, and that holding back free trade would not bring fair trade.

Trade disputes should be dealt with according to the different situations in different countries, Li said.

"Based on the principal of equal consultation, mutual understanding and accommodation, as well as equal treatment without discrimination, countries must seek convergent interests and complement each other's advantages to achieve win-win results," Li said.

"Neither should we impose unilateral rules on others, nor politicize fair trade," he said.

Li underpinned the positive role of globalization in promoting the free flow of merchandise, capital and human resources, which creates a bigger market for producers and more choices for consumers that benefit all countries.

The problems facing different countries are not due to globalization itself, but because of the inability to address it, he noted. "It does not make sense to blame the rough road and stop moving if I sprain an ankle."

It is advisable to adapt to and better guide the direction of globalization, safeguard the authority and effectiveness of multilateralism, promote free trade and investment facilitation, reform global economic order to ensure all countries enjoy equal rights, opportunities and rules, he noted.

From Tuesday to Thursday, around 1,500 politicians, officials, entrepreneurs, scholars and media representatives from over 90 countries and regions will assemble in Dalian to discuss topics from inclusive growth to the new industrial revolution.

The "Achieving Inclusive Growth in the Fourth Industrial Revolution" meeting will focus on how technology and policy innovation can accelerate a more inclusive style of economic growth that prioritizes meaningful jobs.

Established by the World Economic Forum (WEF) in 2007, the summer forum is held each year in China, alternating between the port cities of Dalian and Tianjin.