Chinese President Xi Jinping delivered a keynote speech at the opening ceremony of the Fourth Ministerial Meeting of the China-CELAC Forum, stating that the world is undergoing rapid changes unseen in a century, with multiple risks intertwining, Chinese state media reported.He accentuated that only through unity and cooperation can countries maintain global peace and stability and promote prosperity. Tariff wars and trade wars result in no winners, and hegemonic actions only lead to isolation.Related NewsM Stanley: US-CN Trade Talks Achieve Substantial Progress, Positive Catalyst for CN Mkt in Near TermChina and Latin American and Caribbean (LAC) countries are key members of the Global South, sharing a tradition of independence, a natural right to development, and a common pursuit of fairness and justice, Xi noted. China is willing to join hands with LAC countries to launch five major initiatives to promote development and build a China-LAC community with a shared future:1. Unity Initiative: China will continue to support LAC countries on issues concerning core interests and major concerns.2. Development Initiative: China will work with LAC countries to implement the Global Development Initiative, uphold the multilateral trading system, ensure stable global supply chains, and maintain an open and cooperative international environment.Related NewsInflation Rate YoY for Apr in China is -0.1%, unchanged from its last period. The forecast was -0.1%.3. Civilization Initiative: China will collaborate with LAC countries to implement the Global Civilization Initiative, promote equality, mutual learning, dialogue, and inclusive civilizations, and uphold universal human values such as peace, development, fairness, justice, democracy, and freedom.4. Peace Initiative: China will partner with LAC countries to implement the Global Security Initiative.5. Public Mind Initiative: Over the next three years, China will provide 3,500 government scholarships, 10,000 training opportunities in China, and 500 international Chinese teacher scholarships to CELAC member states, and more.Related NewsInflation Rate MoM for April in China is 0.1%, higher than the previous value of -0.4%.