On October 9, 2012, Ministry of Foreign Affairs held the Inaugural Meeting of Department of International Economy. State Councilor Dai Bingguo and Foreign Minister Yang Jiechi addressed the meeting. Wu Zhilun, Deputy Director of State Commission Office for Public Sector Reform (SCOPSR), Zhang Zhijun, Party Secretary and Vice Foreign Minister, leaders and representatives of relevant departments attended the meeting.

Dai Bingguo expressed his congratulations on the establishment of Department of International Economy under the Ministry of Foreign Affairs. He remarked that economic diplomacy plays a vital role in the development of international relations, that economic relations have all along been important relations among countries and that economic cooperation is as always the key bond in country-to-country relations.

Dai stressed that China has all along attached great importance to economic diplomacy, which is a vital component of the overall diplomatic work of China and as such plays an increasingly important role in its national development and overall diplomacy. The Ministry of Foreign Affairs has to gain a deep understanding of the practical and long-term significance of deepening economic diplomacy under new circumstances. By taking advantage of establishing the Department of International Economy, the Ministry will carry forward the diplomatic cause into the future, make overall planning, keep up closely with the developments in international situations, the development needs of the nation and the overall objectives of diplomacy, strengthen its political, economic, holistic and pioneering awareness, forge ahead economic diplomacy at a higher and deeper level so as to open up a new prospect for economic diplomacy.

Yang Jiechi noted that the Foreign Ministry regards economic diplomacy as an important part of its mission. The Ministry has always adhered to coordinating two general situations, paid attention to the overall situation in diplomacy, strengthened its strategic mindset, put foreign political relations together with economic cooperation and moved forward diplomatic work in a positive and steady manner. The Department of International Economy is set up to meet the objective of strengthening economic diplomacy to serve the scientific development of the nation. To that end, the Department will be responsible to help better participate in international economic cooperation and economic governance from the perspective of politics and diplomacy, implement the opening-up strategy of mutual benefit and win-for-all, safeguard the interest of national development and economic security and make bigger contributions to boosting world economic growth and realizing common development of all countries.

Yang added that the Ministry of Foreign Affairs will strictly focus on the theme of scientific development and the main task of transforming economic growth mode. By responding to the domestic economic situation and development needs, the Ministry will make more efforts to track and analyze the international economic situation and trends so as to play its due role in economic diplomacy.