Foreign Minister Wang Yi said on Sunday that China will not only act as "the world's factory" but also "the world's market", highlighting the key role of a universally beneficial and inclusive economic globalization.

Wang made the remarks at a news conference on China's foreign policy and external relations on the sidelines of the fourth session of the 14th National People's Congress. 

The goal of promoting an economic globalization that is universally beneficial and inclusive is to make the pie of economic globalization bigger and, more importantly, divide it more fairly, Wang said, adding that the principle is to leave no country behind and halt the widening wealth gap.

"Erecting tariff barriers and pushing economic and technological decoupling is no different from using kindling to put out a fire—you will only get burned," he said.