Xi's trip to give clear boost to the economy

Updated 2017-06-28 07:47:39 China Daily

President will make visits to Russia and Germany, attend Group of 20 summit

President Xi Jinping's upcoming trip to Russia and Germany, starting on Monday, is expected to inject positive energy into the global economy amid China's efforts to boost free trade and open economies, analysts said.

Xi will make the state visits through July 6 at the invitation of Russian President Vladimir Putin, German President Frank-Walter Steinmeier and Chancellor Angela Merkel, according to Foreign Ministry spokesman Lu Kang, who confirmed the trip on Tuesday.

The president will also attend the 12th Group of 20 summit on July 7 and 8 in Hamburg, Germany. It will be Xi's fifth time participating in the G20 summit since he was elected China's president in 2013.

Chen Fengying, a senior researcher on the world economy at the China Institutes of Contemporary International Relations, said that at the G20 Hamburg summit, China is likely to offer its solutions to such issues as globalization, the revolution in intelligent industries and how to make development sustainable.

During the G20 Hangzhou summit in Zhejiang province last year, China contributed to improving global governance by proposing innovation, structural reform and free trade, crucial elements for the recovery of the global economy, she said. The success of the G20 Hangzhou summit will help leaders reach consensus at Hamburg, she added.

Chen Yurong, a senior researcher in Eurasian studies at the China Institute of International Studies, said that the countries should work together to keep the multilateral discussions going to achieve win-win cooperation at a time when the global economy is facing more challenges.

China and Russia are facing more opportunities to boost pragmatic cooperation, especially in infrastructure and energy, amid the two countries' ongoing efforts to align the Belt and Road Initiative with the Eurasian Economic Union, Chen Yurong said.

Cooperation projects in infrastructure construction and energy between China and Russia include the China-Mongolia-Russia Economic Corridor, the Moscow-Kazan high speed railway, Arctic sea route exploration and energy pipelines.

The two countries will be able to deepen cooperation in areas including education, energy, manufacturing, sports, tourism and trade under the framework of the Belt and Road as well as the EEU, she added.

Jin Yong, a professor of international relations at the Communication University of China, said that Germany plays a key role in China's economic cooperation with Europe, and Xi's visit will bring more opportunities for the two countries to boost pragmatic cooperation.

This year marks the 45th anniversary of the China-Germany diplomatic relationship, and Premier Li Keqiang's official visit to Germany four weeks ago has also brought positive progress in bilateral ties, he added.

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