In a meeting with multinational executives, Xi Jinping advocates for greater openness in China.

247, with Xinhua - Focusing on summit themes such as openness, cooperation and mutual benefit, Xi and the executives exchanged views on issues ranging from the Belt and Road Initiative, innovation and smart manufacturing, to green development and global governance.

Xi said that companies have participated in, witnessed, contributed to, and benefited from China's reform and opening-up initiative over the past four decades, during which the country has experienced rapid economic growth and lifted more than 700 million people out of poverty, according to United Nations standards.

Looking to the future, China has more confidence in reform and opening up and believes that opening up can be a key measure for the country's development, he said.

Since 2017, the global economy has registered stable and positive development. However, Xi said that global economic growth remains weak, while trade protectionism, isolationism, and populism continue to grow, and the challenges to world peace and development become increasingly severe.

"Under the new situation, we must not halt the opening up, we must strive for its quality," Xi said.

"People must cooperate to help each other and face challenges together, as well as seek a situation of mutual benefit," he indicated.

"The international community is a global village and should not engage in zero-sum games. The future of the world should be decided by all countries, international rules should be written by all, world affairs should be managed by all, and developmental advancements should be shared by all. China is willing to work with other countries to build a community of shared future for mankind," said the Chinese president.

Xi noted that the Belt and Road Initiative, which has enormously harnessed potential and greatly benefited people since its launch five years ago, is not exclusive, but open and inclusive.

"It's not just China's solo effort, but a chorus of countries along the route," he said. "We encourage multinational companies to cooperate with Chinese companies to achieve mutual benefits and obtain more substantial results."

Xi emphasized that as innovation and development have become more popular and innovation-oriented development strategies have advanced, China's pace of technological innovation has become more steady.

"We have always considered fulfilling people's aspirations for a better life as the starting point and ultimate goal of technological innovation," he said.

Regarding ecological development, Xi said that the modernization built by China is one of harmonious coexistence between humanity and nature.

Xi emphasized that China will impose the strictest rules and laws to protect the environment, in order to leave a sustainable environment for future generations.

Xi said that economic globalization has made important contributions to global economic development and has become an irreversible trend.

"China will follow the principle of achieving shared growth through discussion and collaboration on global governance, continue to play a responsible role as a major country, actively participate in the reform and construction of global governance systems, and inject momentum into the reform and optimization of global governance," he said.

Xi urged the international community to "follow the path of reform, opening up, innovation and development and not return to isolation, inflexibility, protectionism and unilateralism."

Xi emphasized that foreign capital has played an active and important role in China's economic development and in the process of deepening reform.

"Over the past 40 years, China has achieved economic development thanks to openness. In the future, it must pursue high-quality economic development with even greater openness," he said.

"China's door to the outside world will open wider, rather than close," he said. "China will continue to greatly facilitate market access, create a more favorable environment for investors, strengthen the protection of intellectual property rights, and expand imports to create a more relaxed and orderly environment for domestic and foreign companies to invest and do business in China."

The business leaders who attended the meeting praised the results of China's reform and opening up and said they appreciate China's contribution to global economic growth.

They also emphasized that multinational companies are pleased to have been part of China's reform process over the past 40 years, given that they have benefited from China's long-term growth, in addition to making their own contribution to China's development.

Business leaders said the rest of the world needs to increase its understanding of Chinese culture and the governance of the Chinese Communist Party.

Business leaders said they appreciate China's firm support for globalization and its opposition to trade protectionism, given that economic globalization is an irreversible trend.

The executives agreed that multinational companies enjoy a constantly expanding development space in China.

Business leaders said that China has demonstrated its leading role in building a community with a shared future for humanity, with contributions such as advancing the Paris Agreement on climate change.

Transnational companies are willing to participate in the Belt and Road Initiative and expand exchanges and cooperation with China in many areas to achieve greater development and growth alongside the Chinese economy.