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World biz representatives call for multilateralism at key trade summit in Beijing, praising China’s opening-up efforts amid global headwindsBy Yin Yeping, Chi Jingyi (Global Times) 09:31, May 23, 2025
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.
