World biz representatives call for multilateralism at key trade summit in Beijing, praising China’s opening-up efforts amid global headwinds

Ren Hongbin, Chairman of the China Council for the Promotion of International Trade (CCPIT), speaks at the Global Trade and Investment Promotion Summit 2025 held in Beijing on May 22, 2025. (Photo/Courtesy of the CCPIT)

World business representatives gathered in Beijing on Thursday for the Global Trade and Investment Promotion Summit 2025, where they voiced strong support for multilateralism and a rules-based trading system amid global headwinds driven by protectionism and unilateralism.

They also underscored China's important role as the world's second-largest economy in promoting open and fair trade - a vital source of stability in uncertain times. China's advancements in sectors such as artificial intelligence (AI) and electric vehicles (EVs) were also highlighted as examples of the country's openness to global opportunities.

Chinese Vice President Han Zheng, when addressing the audience at the opening ceremony of the summit, said that China has consistently advocated for an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization. It has been a major contributor to and anchor of stability for global growth.

China will unswervingly expand high-level opening-up and promote high-quality development, providing broad opportunities for enterprises around the world. Partnering with China means walking alongside opportunities, Han said.

This year's summit, hosted by China Council for the Promotion of International Trade (CCPIT), saw a higher level of international participation than ever before, with a record number of countries and regions represented, as well as the largest presence of overseas institutions and delegates to date.

More than 800 people attended the meeting, including officials from foreign government departments, international organizations, foreign business associations and global trade promotion institutions, as well as representatives from Chinese and foreign enterprises, according to the Xinhua News Agency.

New, open opportunities

Themed "embracing the era of digital intelligence, collaborating for shared development," one important topic widely discussed among participants is the need for strengthening cooperation in the technology sector in which China is also playing an increasingly important part.

This is the first time Christos Vlachos from Greece is participating in the event, and he said it's a deep honor and exciting for him to meet with government and business representatives. He is a director of Silky Finance, which is in the city finance business and does cross-border investment, particularly between China and Europe.

Vlachos is impressed by China's advances in the new technology sector, in which AI applications such as DeepSeek are a good example.

China's EVs are also providing the world with cost-effective solution for carbon reduction, which Vlachos believes is a very positive thing not only for China but the world.

"China's innovation capability and potential are unlimited," Vlachos further noted.

In the face of the global challenges posed by protectionism in which technology blockage is a highlight, the Greek business representative said that what China is doing for further opening-up is a great job. "I've been coming to China since 1996, and thanks to the country's visa-free policy to countries including Greece, now it's the first time I come without a visa, which is fantastic," he said.

Michael Hart, President of the American Chamber of Commerce in China, told media at the sidelines of the Global Trade and Investment Promotion Summit 2025 that "there are plenty of areas where we could cooperate with China," giving examples of China's continuous efforts to be a place with advanced manufacturing and with a strong supply chain base.

AI is a place where Hart sees the potential for both sides to find ways to cooperate. "I think it's critical for the whole world that China and the US find ways to cooperate on AI because this is a technology that can change almost every sector," said Hart.

Call for multilateralism

Against the backdrop of the growing trend of protectionism, many representatives from around the world expressed their support for multilateralism in which China plays an important role at Thursday's summit.

Speaking at the opening ceremony, president of the New Development Bank Dilma Rousseff expressed concern over tariffs that severely disrupt the normal order of international trade. Amid these challenges, she praised China's push for cooperation and its adherence to the principle of mutual benefit, which she said offers a hopeful outlook for emerging markets and developing countries, citing the Belt and Road Initiative as an example, according to a press release from the organizer.

Mathias Boyer, national and north chair of the Danish Chamber of Commerce in China, is one of the believers of multilateralism. While talking to the Global Times at the event, he said that "together we are stronger and we can all stand to win if we work together."

Boyer noted that "I think China has really shown that it wants to promote multilateralism, wants to continue with globalization, which I think has been very important in terms of bringing stability to the world."

He gave examples of some of the new policies introduced by the Chinese government to support foreign services in developing within the Chinese market, as well as his expectations for more such policies to follow.

This year marks the 75th anniversary of the establishment of diplomatic relations between China and Denmark. China has a very large consumer market and continues to promote stable business policies and to allow the opening up of its marketplace to allow free access, said the Danish business representative, adding that companies from his country remain very interested in increasing investments in pharmaceutical sector and renewable energy, the two booming sectors, in China.

Pablo Machado from Brazil echoed Boyer's stance. A global executive vice president at Suzano, he told the Global Times at Thursday's event that he expects that this summit will continue to promote multilateralism, free trade and cooperation amid a difficult international environment that the world sees today.

Businesses want predictability but now it is very hard to predict because of the current situation, Machado said. Speaking as a business representative from Brazil, he believes cooperation with China brings stability and predictability, giving as an example the Brazil-China economic and trade ties, which Machado said are "very stable and increasing given high complementarity."

"It is very necessary at a time with surging protectionism that China continues to open up its market and to create a level playing field for all and be a responsible actor in the global trading environment, especially during these days, said Peter Ling-Vannerus, chairman of the Swedish Chamber of Commerce in China, on the sidelines of the summit.

"China plays an important role in maintaining multilateralism," Ling-Vannerus told the Global Times.

"Whilst we have some challenging geopolitical and geoeconomics events going on right now, I'm confident that this will be a short-term problem, and we will be able to find opportunities to collaborate constructively," Timothy Russell Hailes, Future Lord Mayor of London (2026), told the Global Times at the sidelines of the summit.