Wen: oppose trade protectionism

Premier Wen Jiabao on Tuesday called on the international community to resolutely oppose trade and investment protectionism and work together for an early recovery of the global economy.

Wen made the remarks at the opening ceremony of the sixth annual World Economic Forum's Annual Meeting of the New Champions 2012, also known as the Summer Davos, which is being held from Sept 11 to 13 in Tianjin.

The international financial crisis has entered its fifth year, yet its underlying impact is still with us, Wen said, adding that advanced and emerging economies alike are all experiencing an economic slowdown.

The sovereign debt crisis in some countries is also ongoing. International financial and commodity markets are experiencing great fluctuations, market expectations remain low and the downward risks of the global economy are not to be underestimated, said Wen.

"It's all the more important for us to boost confidence and stick together to meet the difficulties head-on," Wen said.

Wen said that he always believed that confidence is a source of strength and that technological innovation offers a fundamental way to overcome the crisis.

He said that green development is the main goal of economic transformation and opening-up policies and that cooperation is an irreversible trend of the world.

Wen also called on the international community to boost macroeconomic policy coordination, and push forward the reform of the global governance structure.

He also urged entrepreneurs globally to invest more in technological R&D and product innovation, vigorously develop green industries that are energy efficient and environment-friendly, create new market demand and growth areas, and bring about a win-win outcome where businesses boom, industries get stronger, the economy prospers and society progresses.