BEIJING -- Chinese Vice President Li Yuanchao has called on countries to oppose trade protectionism and embrace innovation to cope with the ongoing global financial crisis.

Li made the remarks while addressing a global think tank summit that opened in Beijing on Friday.

All countries should seek a development model that features innovation, balance, inclusiveness and sustainability, he said.

Opening-up and cooperation are important guarantees for overcoming the crisis, Li said.

Countries should become increasingly aware that they share a common destiny and they should safeguard a stable and opening international trade and investment environment, he said.

The vice president also called on countries to find converging interests and increase common interests.

He asked countries to refrain from adopting a zero-sum mentality and, instead, foster a new concept of development that features common prosperity and progress.

China will hold high the banner of peace, development, cooperation and mutual benefit, and it will work with all countries to establish a fair, reasonable, generally preferential, balanced, dynamic, stable and orderly new international economic order, he said.

The summit, which will close on Saturday, is attended by a number of dignitaries, including former US Secretary of State Henry Kissinger, former Japanese Prime Minister Yukio Hatoyama and Director-General of the World Trade Organization Pascal Lamy.