Chinese President Xi Jinping on Monday called for building a world economy characterized by cooperation, stability, openness, innovation and eco-friendliness.
Xi made the remarks during the second session of the 19th G20 Summit in Brazil's Rio de Janeiro on Monday, which focused on reform of the institutions of global governance.
In his speech titled "Working Together for a Fair and Equitable Global Governance System", Xi noted that it has been 16 years since the launch of the G20 Summit.
Proceeding from a new starting point, the G20 needs to build on its past achievements and continue to act as a force to improve global governance and move history forward, he said.
Xi called on G20 leaders to keep in mind that mankind lives in a community with a shared future, see each other's development as opportunities rather than challenges, and view each other as partners rather than rivals.
He said that it is important to observe the basic norms of international relations underpinned by the purposes and principles of the UN Charter, defend the international order based on international law, build greater international consensus, and promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization.
First, Xi called for efforts to improve global economic governance and build a world economy characterized by cooperation.
He underscored the need to stay committed to strengthening global economic partnerships, reinforcing macro policy coordination, and cultivating new quality productive forces.
It is important to make good use of the G20 Finance Ministers and Central Bank Governors Meetings, let them serve as a ballast for macro policy coordination, and foster an open, inclusive, and nondiscriminatory environment for international economic cooperation, Xi stressed.
It is also important to create a clean business environment by upholding a zero-tolerance stance against corruption, and stepping up international cooperation on fugitive repatriation and asset recovery, he said.
Second, Xi called for efforts to improve global financial governance and build a world economy characterized by stability.
To increase the voice and representation of developing countries, joint efforts are needed to keep the international financial market stable and prevent negative spillover of domestic monetary policy adjustments, Xi said, adding that developed countries should fulfill their responsibilities in this regard.
It is important to enhance the systems for financial risks monitoring, early warning and handling, and strengthen the global financial safety net, to better meet the green financing needs of developing countries, he said.
Third, Xi called for efforts to improve global trade governance and build a world economy characterized by openness.
It is necessary to press ahead with reforming the World Trade Organization (WTO), and oppose protectionism, he said.
Joint efforts are needed to avoid politicizing economic issues, avoid fragmenting the global market, and avoid taking protectionist moves in the name of green and low-carbon development, Xi said, calling for industrial and supply chain partnerships that are more equal, inclusive and constructive.
Fourth, Xi called for efforts to improve global digital governance and build a world economy characterized by innovation.
He highlighted the need to strengthen the function of the G20 Digital Economy Ministers' Meeting and let it play a leading role in digital transition, the deep integration of the digital economy and the real economy, and rules-making in emerging areas.
Xi said that it is essential to step up international governance and cooperation on artificial intelligence (AI) to make sure that AI is for good and for all.
China will hold another world AI conference in 2025 and welcomes the participation of fellow G20 members, he said.
Fifth, Xi called for efforts to improve global ecological governance and build a world economy characterized by eco-friendliness.
It is important to honor the principle of common but differentiated responsibilities and fully and effectively implement the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework, he stressed.
Developed countries should provide developing countries with the necessary funding, technology and capacity-building support, Xi said.
He called on G20 leaders to jointly support the ongoing and upcoming UN conferences on climate change and desertification in achieving positive outcomes,
Xi stressed the need to follow the approach of "establishing the new before abolishing the old" and replace traditional energy with clean energy in a stable and well-ordered way to expedite the green and low-carbon transition of the world economy.
China stands ready to continue to deepen international cooperation with all sides on green infrastructure, green energy, green mining, and green transport and will provide support to developing countries to the best of its ability, he said.
Noting that global security governance is part and parcel of global governance, Xi said that the G20 should support the United Nations and its Security Council in playing a greater role and support all efforts conducive to the peaceful settlement of crises.
He urged efforts to de-escalate the Ukraine crisis and seek a political settlement, stop fighting in Gaza, and provide support for easing the humanitarian crisis in the region and for postwar reconstruction.
The fundamental way out of the cycle of Palestinian-Israeli conflict lies in the implementation of the two-state solution, the restoration of Palestine's legitimate national rights, and the establishment of an independent State of Palestine, Xi stressed. In conclusion, Xi called on the leaders to renew their commitment to the founding mission of the G20, make a fresh start from Rio de Janeiro, carry forward partnership, practice true multilateralism, and usher in a better future of common development and prosperity.
Brazilian President Luiz Inacio Lula da Silva chaired the meeting.
The G20 Rio de Janeiro Leaders' Declaration was adopted at the summit.
Xi arrived in Brazil on Sunday to attend the 19th G20 Summit scheduled for Monday and Tuesday and pay a state visit to the country at the invitation of Brazilian President Luiz Inacio Lula da Silva.
Created in 1999, the G20 is a main forum for international cooperation on financial and economic issues. It comprises 19 countries plus the European Union (EU) and the African Union (AU).
Xi calls for building a world economy characterized by cooperation, stability, openness, innovation, eco-friendliness
Xi calls for building a world economy characterized by cooperation, stability, openness, innovation, eco-friendliness
Xi calls for building a world economy characterized by cooperation, stability, openness, innovation, eco-friendliness
Xi calls for building a world economy characterized by cooperation, stability, openness, innovation, eco-friendliness
