MK sports World Economic Forum logo is seen at the Congress Center in Davos, Switzerland, on January 18, 2025. Photo: VCG" src="https://www.globaltimes.cn/Portals/0/attachment/2025/2025-01-09/ca29fad2-2d10-47f5-9886-c8d340227d95.jpeg" />

The World Economic Forum logo is seen at the Congress Center in Davos, Switzerland, on January 18, 2025. Photo: VCG

Member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier Ding Xuexiang delivered a special address at the World Economic Forum （WEF）Annual Meeting 2025 held in Davos, Switzerland on Tuesday.

With imminent tariff wars and trade wars, an ongoing tug of war between the forces for and against economic globalization, and intense rivalry between multilateralism and unilateralism, global governance is undergoing profound adjustments, said Ding, noting that we should firm up confidence, uphold solidarity and cooperation, and forge ahead hand in hand despite high winds and choppy waters to build a community with a shared future for mankind, according to the website of Chinese Ministry of Foreign Affairs.

He also emphasized that reform and opening up is moving up to a higher level as one major trend that characterize the Chinese economy. This is the source of vitality of the Chinese economy. It is through reform and opening up that China caught up with the times in big strides over the past decades, and in order to break new ground in China's modernization drive, we still count on reform and opening up, he added.

The WEF kicked off its 2025 session on Monday (local time) in Davos-Klosters, Switzerland. This year, the five-day annual meeting convenes under the title Collaboration for the Intelligent Age, with global leaders gathering to address key global and regional challenges. These include responding to geopolitical shocks, stimulating growth to improve living standards, and stewarding a just and inclusive energy transition, according to the WEF's website.

In addition to significant achievements in AI technology and industry, China has made positive contributions to the global governance of AI, said a senior official of the World Economic Forum, according to Xinhua. 

In the next decade, AI will have a profound impact on global economic growth, industrial transformation, social livelihood, climate environment and international cooperation, said Chen Liming, chair of Greater China of the WEF, in a written interview with Xinhua.

Kang Bo, vice president of Chinese NEV maker SERES, told the Global Times that collaboration across industries is essential for innovation in fast-moving tech sectors like electric vehicles. By sharing resources and expertise, companies can create smarter and more advanced products.

"Boundaries between sectors are becoming more fluid, making cross-industry collaboration very crucial. SERES has built partnerships with global automotive suppliers and leading technology companies, boosting its products' intelligence and connectivity," Kang said.

"Cooperation, empowered by digital technologies, can create more business models and industrial development patterns, becoming crucial for driving global economic growth," Lan Qingxin, a professor at the BRICS Research Center at the University of International Business and Economics, told the Global Times.

Additionally, intelligent technologies can also promote exchanges between countries, allowing a smoother flow of production factors and injecting new momentum into the global economy, Lan said.

"Within this more unsettled climate, the only way to address urgent challenges and unlock new opportunities is through innovative, cooperative approaches," said Børge Brende, President and CEO of the WEF, as posted on the forum's website.

Hu Qimu, deputy secretary-general of the digital-real economies integration Forum 50, echoed Brende by saying that in the face of numerous challenges in the world today, cooperation and multilateralism are more important than ever.

According to a WEF report titled Chief Economists Outlook released on Thursday, a majority of chief economists (56 percent) expecting the global economy to weaken over the next year, compared to 17 percent anticipating improvement.

The report revealed that 100 percent of the surveyed economists consider protectionism as one of the factors expected to cause durable changes to trade patterns over the next three years. Supply chain restructuring (93 percent) and conflict, including sanctions (83 percent), are also major factors.

Facing potential isolationism and trade protectionism in the future, the world needs to embrace multilateral mechanisms, where China would play a more active role as the country is a proponent and advocate of multilateralism and international cooperation, Hu told the Global Times on Tuesday.

Hu said he expects more multilateral cooperation proposals from China at the WEF, where countries would send signals on the development of international economic and trade cooperation, making the annual meeting an important bellwether for global economic growth.