News & Politics

President Xi Calls for Better Coordination of Domestic and International Markets to Boost China's Global Influence

China's President Calls for Better Coordination of Domestic and International Markets in Boosting Global Influence

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19 January 2024

China's President Xi Jinping has urged for better coordination of domestic and international markets as a way to strengthen China's global influence. In a speech given during the 2020 celebration of the 30th anniversary of the establishment of Shanghai's Pudong New Area, Xi emphasized the importance of improving resource allocation capabilities and raising the country's standing in the global market. Specifically, he called for an increase in influence over the allocation of funds, information, technology, talent, and goods.

This message was echoed by Weibo users who expressed support for the president's remarks. "Great call from President Xi!" one user exclaimed, while another urged the government to act on the president's vision.

Xi's call for better coordination of markets comes as China continues to grapple with its economic challenges, including increasing geopolitical tensions and a slowing global economy. However, many Chinese netizens remain optimistic about the country's future prospects.

"With President Xi's guidance, China will surely achieve its goal of becoming a global economic powerhouse," wrote one Weibo user.

In addition to focusing on China's domestic market, the president also called for greater engagement with international markets, particularly those in developing countries. The government has already taken steps in this direction, as evidenced by the recent agreement between China and Tanzania. The two countries signed 10 agreements worth 72 million RMB at a business forum in China, while the Tanzanian government also granted the East Africa Business Logistics Center the exclusive right to organize international trade fairs in China.

This move is indicative of China's growing influence in the global market and its commitment to expanding its trade relationships with countries in Africa and beyond.

Despite the optimism expressed by some netizens, others expressed concerns about the challenges that China faces in achieving its goals. One user, for example, commented on the difficulty of implementing such a complex strategy, while another pointed out the need for better infrastructure to support the country's economic growth.

As China continues to navigate the complex challenges of global economic competition, President Xi's call for greater coordination of domestic and international markets offers a roadmap towards greater global influence. Whether or not the country can achieve its ambitious goals remains to be seen, but one thing is clear: China's economic rise will continue to reshape the global landscape for years to come.

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