In his keynote speech at the opening ceremony of the second Belt and Road Forum for International Cooperation, President Xi Jinping pointed out that the joint construction of the Belt and Road Initiative will open up new space for world economic growth, build a new platform for international trade and investment, expand new practices for improving global economic management, and make new contributions to the improvement of people's well-being in all countries, which will become a common path of opportunity and prosperity. The current global economic management system is no longer adapted to the changes of global economic structure, the new characteristics of the development in international division of labor, and the inclusive development of global economy. Instead, the Belt and Road Initiative advocates the concept of "a community with a shared future for mankind", which is based on the principle of "Consultation, Contribution and Shared Benefits". By means of supplementing and improving the current deficiencies and defects of the global management mechanism, the Belt and Road Initiative can effectively solve the problems above. The Belt and Road Initiative is based on a profound understanding of the development laws of contemporary economic globalization, and has important theoretical and far-reaching guiding significance: firstly, it is an important part of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era; secondly, it reveals the rule of global economic management under the new pattern of contemporary world economy; thirdly, it puts forward a correct theoretical guidance for the development direction of contemporary globalization.
