Xi’s New Year Vision: Peace and Economic Ambitions

In a New Year's message to Russian President Vladimir Putin, Chinese President Xi Jinping declared China's commitment to promoting world peace and economic development. Despite economic challenges, including a struggling real estate sector, weak domestic consumption, and significant national debt, Xi remains optimistic about achieving a 5% economic growth by 2025. He acknowledged external uncertainties and the transition pressure from old to new growth drivers but emphasized that these hurdles could be overcome through dedicated efforts.

China finds itself in a complex geopolitical landscape, balancing its relations between the United States and Russia. Amidst threats from the US, including potential increased tariffs under the Trump administration, China has maintained a strategy of neutrality regarding the Ukraine conflict. Nevertheless, Beijing continues its political and economic partnership with Moscow, a relationship Xi describes as increasingly mature and stable as it approaches its 75th anniversary.

Xi also highlighted the importance of further comprehensive reforms and modernization following a uniquely Chinese path. Strengthening the China-Russia partnership remains pivotal, with both nations leading initiatives in international platforms like BRICS and the Shanghai Cooperation Organization. Despite challenges, Xi is resolute in fostering modernization and reforms, aiming to enhance China's development in technology, infrastructure, and environmental sustainability.

The enduring ties between China and Russia were underscored by Xi’s personal camaraderie with Putin, whom he regards as a ‘best friend.’ As the two countries look ahead, they seek to reinforce their strategic partnership, navigating global challenges hand in hand while aspiring to contribute to global stability and prosperity.