Global Courant
Chinese President Xi Jinping waves after his speech as the new members of the Politburo Standing Committee meet the media after the 20th National Congress of the Communist Party of China, at the Great Hall of the People in Beijing, China, 23 October 2022 .
Tingshu Wang | Reuters
BEIJING — Chinese President Xi Jinping said on Tuesday that Beijing opposes “decoupling and severing ties,” according to a CNBC translation of a Chinese-language state media talk.
Promoting economic growth is the shared responsibility of countries in the region, Xi said, according to the record of his remarks at a virtual summit of the Shanghai Cooperation Organization.
The SCO is a political, security and trade alliance whose members are China, India, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Iran, Tajikistan and Uzbekistan. The group also has “observer states” and “dialogue partners,” which Saudi Arabia was promoted to in March.
China is willing to work with all parties to implement the Global Development Initiative and make the “cake” bigger so that people in different countries can benefit, the state media report on Xi’s remarks said. Xi suggested the Global Development Initiative to the United Nations in 2021. It is claimed to include efforts to support the UN Sustainable Development Goals.
The country opposes protectionism, unilateral sanctions and the generalization of the concept of national security, the report said on Tuesday.
Xi’s comments come ahead of US Treasury Secretary Janet Yellen’s planned visit to China from Thursday to Sunday. Yellen’s visit follows US Secretary of State Antony Blinken’s important trip to Beijing last month.
Tensions between the US and China, the world’s two largest economies, have escalated in recent years. Recent moves by both governments have focused on technology.
China’s Commerce Ministry said late Monday that it is restricting exports of two metals used in semiconductor manufacturing.
The US announced export controls in October to limit China’s development of advanced semiconductors.
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