Chinese PM speaks in Davos: says Beijing has proved itself "worthy of trust"

During a speech at the WEF in Davos, Chinese Prime Minister Li Keqiang said that China has proven to be "trustworthy" and called on countries "of all sides" to treat each other sincerely, UNN reports citing CNBC.

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According to him, trust between countries has contributed to globalization in recent decades. But he added that it has recently been "undermined.

Li suggested five ways to restore confidence, first and foremost by strengthening macroeconomic policy coordination. "In the face of global crises, fragmented and separate responses will only make the global economy even more fragile," he said.

He also called on countries to strengthen industrialization to "maintain stable and uninterrupted supply chains" and to cooperate in science and technology to keep innovations "flowing." "Green development and narrowing the gap between developed and developing countries were the last items on his list.

Li also said that technological innovation should not be used as a way to restrict or deter other countries.

"To maintain healthy competition and show the greatest vitality, the only way is to strengthen cooperation," Li said.

Li did not name any countries in his speech. Beijing has repeatedly asked Washington to lift restrictions on Chinese companies that prevent them from purchasing advanced technologies from American firms.

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Chinese President Xi Jinping will skip Davos this year. His American counterpart, Joe Biden, has also not attended the event since becoming president.