Bernard Dewit, chairman of the Belgian-Chinese Chamber of Commerce, said that Xi's speech "clearly and rightly describes the major tasks the world is facing with the COVID-19 pandemic and its consequences".

Dewit said he appreciated that Xi declared that the global community cannot tackle common challenges in a divided world and advocated the building of an open world economy.

"It is important for Europe and the rest of the world to note that Chinese President Xi confirms that his country will continue to implement a strategy of opening-up and promote sustainable development," he said.

Evgeny Zagrebnov, a Russian expert on Sino-Russian relations, said Xi's speech showed China's commitment to free trade and investment. China is calling for the international community to get rid of economic barriers and jointly find a solution to challenges brought by economic globalization.

The reform of global economic structures allows China and other developing countries to play a more balanced role on the world stage. It also makes the global economy stronger, more regulated and more resilient, which fits the concept of the China-proposed Belt and Road Initiative, Zagrebnov said.

Yuzo Tanaka, a professor of economics at Ryukoku University in Kyoto, said that China's contribution to the world economy is the "light shining out of the darkness" after a crippling pandemic plunged major world economies into recession, and Xi's stand on inclusive growth, green development, global governance and consensus-building fit the goal of this year's Davos, which is "a historic opportunity for collaboration".

Nawazish Mirza, an associate professor of finance at Excelia Business School in France, said that Xi's speech was "a reiteration of China's commitment to cooperation, development and collective growth".

Mirza said that Chinese policy has always opposed conflict in international relations, and Xi's speech maintained that stance.

"China has been the only economy that has reported robust growth during the pandemic, and meaningful cooperation could yield significant prospects for the US. The lowering of sanctions, minimizing supply disruptions, strategic communication and technology sharing could not only benefit both the world powers but also contribute to global growth, something that is much needed in a post-pandemic world."

Mirza said: "Xi also pointed out the importance of closing the divide between developed and developing countries aligned with the Chinese view of shared prosperity."

Dennis Munene, executive director of the China-Africa Center at the Africa Policy Institute, said that Xi's speech comes at a time when the global community is looking for sustainable economic policies to revive its struggling economy.

"In reviving the global economy, President Xi advocates the shunning of ideological prejudice such as unilateralism and isolationism and instead promotes multilateralism and building a community with a shared future for mankind," he said.

Munene said he appreciates that Xi advocates the strengthening of equal opportunities, equal rights and equal rules so that all countries will benefit from the fruits of development.

Prime Sarmiento in Hong Kong, Liu Yinmeng in Los Angeles, Wang Xu in Tokyo and Liu Hongjie and Chen Yingqun in Beijing contributed to this story.