Xi’s G20 statements provide guidance for improving global economic governance

Beijing: Global economic governance should be based on equality, embrace openness, be driven by cooperation, and be a mechanism of sharing, Chinese President Xi Jinping has said while advocating a fair, open, comprehensive and innovative development path.

Xi has reiterated his vision on global economic governance and called for action since 2013 when he attended the Group of 20 (G20) summit, providing important conceptual guidance for addressing major practical problems facing global development and improving global economic governance.

In a speech delivered at the G20 Riyadh Summit via video link, Xi urged the G20 to strengthen the UN-centered international system, work for better governance structure of economic globalization, and promote the sound growth of digital economy and jointly nurture a digital development environment that is open, fair, equitable and nondiscriminatory.

He also said that the G20 should uphold multilateralism, openness, inclusiveness, mutually beneficial cooperation, and keep pace with the times.

In his remarks at the 14th G20 summit held in the Japanese city of Osaka, Xi put forward a four-point proposal.

He encouraged the G20 to stick to reform and innovation and explore driving force for growth, keep pace with the times and improve global governance, actively tackle challenges and remove development bottlenecks, and uphold the spirit of partnership and properly address differences.

In a speech delivered at the first session of the 13th summit of the G20, Xi urged G20 members to stay committed to openness and cooperation and uphold the multilateral trading system, forge strong partnership and step up macro policy coordination, stay committed to innovation and create new momentum for growth and stay committed to win-win cooperation to promote inclusive global development.

Xi, in his remarks at the G20 held in the German city of Hamburg, called for building an open world economy and supporting the multilateral trading regime, underscored the role of innovation and development in boosting global growth and called on the international community to find new growth drivers.

He also urged the BRICS members to unswervingly promote the building of an open world economy, multilateralism and common development, and improve global economic governance and consolidate the role of the G20 mechanism as the premier platform for international economic cooperation.