Bob Dudley, group chief executive, BP. [photo provided to china daily]

At the opening ceremony of the B20 Summit, President Xi gave a very comprehensive speech highlighting the direction of economic development in China, and the priorities going forward. President Xi was very clear that China is at the new starting point with its 13th Five-Year Plan.

People all around the world are worrying about the modest growth rates. What Xi said is that real growth now needs a shift in paradigms－it has to be some real changes and reforms, and some of them will not be simple. But the fact is, the world does need some transitions and reforms from established interests－that is what Xi was saying. And it is a message for everybody around the world.