His speech operated from a strategically advantageous position looking at "the four processes" of the reform and opening-up, followed by "four targets" of rebuilding the world economy, and then coming to the three directions for the Group 20 and international community to work on. Xi's speech has already set a tone for the G20 Hangzhou Summit.

People with petty shrewdness attend to trivial matters while those with greater wisdom attend to governance of institutions. Xi's call for establishing innovative, opening, interconnected and inclusive world economy matches with the times. This "Chinese prescription" indeed grasps the key of improving global economic governance.

Xi proposed to "jointly maintain a peaceful and stable international environment", "build a cooperative and win-win global partnership together" and "collaboratively improve global economic governance", which illustrates a "Chinese wisdom" of working harmoniously with cooperation and concerted efforts for a win-win end.China's remedies offer a new driving force to global economic growth and overall development, and also point out the direction for world economy to achieve robust, sustainable, balanced and inclusive growth.

Xi's speech not only prescribed a new blueprint for world economy, but also encourages people to work together and be a brave seaman amid the global economic tides.

The author Zhang Maorong is from Institute of World Economy, China Institutes of Contemporary International Relations

( The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com. )

Reprinted from China.org.cn