President Xi's previous G20 discussions have provided important guidance for improving global economic governance

2021-10-29

In 2008, at the most critical juncture of the international financial crisis, the group of twenty (G20) was ordered to pull the world economy sliding towards the cliff back to the track of stability and recovery with the spirit of partnership. This is an initiative. Unity has overcome differences, win-win results have replaced self-interest, and established the important position of the G20 in global economic governance. Since 2013, President Xi Jinping attended various summit meetings of the leaders of the group of twenty, and advocated the concept of global economic governance based on equality, openness, cooperation and sharing. He advocated the development of a fair, open, comprehensive and innovative way to provide important ideas and guidelines for solving the major practical problems facing global development and improving global economic governance. September 5, 2013, St. Petersburg, Russia. The eighth G20 leaders' summit was held against the background that the impact of the international financial crisis still exists, the economies of developed countries have recovered and the economies of emerging market countries have slowed down. In the face of the new economic situation, both developed countries and emerging market countries pay close attention to China's position and proposition, the current situation and future trend of China's economy. At the summit, President Xi Jinping stood at the height of promoting a more balanced and sustainable growth of the global economy, and put forward a series of new ideas, such as development and innovation, growth linkage and interest integration. Advocate G20 members to establish partnership, establish a sense of community of common destiny, cooperate in competition and win in cooperation; We call on all countries to adopt responsible macroeconomic policies, jointly improve global economic governance, and maintain and develop an open world economy. Brisbane, Australia, November 15, 2014. The ninth G20 leaders' summit was held against the background that the world economy has entered a period of weak recovery after the financial crisis, weak growth in developed countries and economic downturn in emerging market countries. The summit focuses on economic growth, employment and risk resistance, so as to stimulate new impetus and achieve strong, sustainable and balanced growth of the world economy. At the summit, President Xi Jinping appealed to members of the group of twenty to innovate their ideas, policies and methods, attach importance to the quality and efficiency of growth, and push the economy from a cyclical recovery to sustainable growth. Establish the awareness of a community of interests and a community of common destiny, oppose protectionism, strengthen macro policy coordination, promote each other and win-win cooperation; Build a fair, equitable, inclusive and orderly international financial system and improve the representation and voice of emerging market countries and developing countries. Antalya, Turkey, 15 November 2015. The 10th G20 leaders' summit was held against the background that the deep-seated impact of the international financial crisis continues and the world economy is still in a period of deep adjustment. President Xi Jinping pointed out the focus of the world economy at the summit: the kinetic energy provided by the last round of the technological revolution and the industrial revolution is coming to an end. The potential of the traditional economic system and development mode tends to fade away. The problem of unbalanced development is far from being solved, and the defects of the existing economic governance mechanism and structure gradually appear. President Xi Jinping proposed that the group of twenty should set goals, specify directions and give full play to their leadership. They should not only take temporary measures to achieve steady growth at the moment, but also make a permanent cure for long-term development. We should not only implement past achievements, but also forge new consensus; We should not only take domestic measures and do our own thing well, but also sincerely cooperate and jointly meet challenges. September 4, 2016, Hangzhou, China. The 11th G20 leaders' summit was held against the background of the overall recovery of the world economy, but faced with multiple risks and challenges, such as insufficient power and weak demand, repeated turmoil in financial markets, and continued downturn in international trade and investment. Pull together in times of trouble, President Xi Jinping said at the summit that the group of twenty should keep pace with the times, share common understanding and work together, share common interests and share the same boat, and grasp the general direction for the prosperity and stability of the world economy, and promote the strong, sustainable, balanced and inclusive growth of the world economy. President Xi Jinping emphasized that it is necessary for the group of twenty to further transform the crisis response mechanism to a long-term effective governance mechanism, focusing on short-term and medium term policies. The development of the G20 affects the future of world economic development. Only by adapting to change and keeping pace with the times can we maintain our vitality forever. Hamburg, Germany, 7 July 2017. The 12th G20 leaders' summit was held against the background of the world economy showing a positive momentum, but deep-seated problems have not been solved and many unstable and uncertain factors. President Xi Jinping pointed out at the summit that the group of twenty should adhere to the road of open development, mutual benefit and win-win and support the multilateral trading system. We should strengthen cooperation in the field of digital economy and new industrial revolution and create new technologies, new industries, new models and new products; In line with the concept of inclusive growth, we should properly handle the contradictions between fairness and efficiency, capital and labor, technology and employment; We should continue to strengthen macro policy coordination, reform international financial institutions, improve international financial supervision and combat tax avoidance, prevent financial market risks, develop Inclusive Finance and green finance, and promote the financial industry to better serve the development of the real economy. November 30, 2018, Buenos Aires, Argentina. The 13th G20 leaders' summit was held in the context of the outbreak of the international financial crisis and the 10th anniversary of the launch of the G20 summit mechanism, the transformation of the old and new drivers of world economic growth has not been completed, the accumulation of various risks has accelerated, economic globalization has encountered twists and turns, and the multilateralism system has been impacted. President Xi Jinping reviewed the development of the group of twenty at the summit, and pointed out that multilateralism, equal consultation and win-win cooperation are the means to overcome major crises. We call on the members of the group of twenty to unite and overcome difficulties. We must adhere to the way of sharing and sharing together, strengthen coordination and cooperation in macro policies, and take a clear-cut stand to safeguard the multilateral system. He pointed out that G20 members should comply with the general trend of development, grasp the economic law, adhere to the correct direction, and clear the clouds for the world economy. June 28, 2019, Osaka, Japan. The 14th G20 leaders' summit was held against the background of unilateralism and protectionism seriously impacting the international economic order, intensifying global trade and investment disputes, and significantly increasing risks and uncertainties in the operation of the world economy. President Xi Jinping pointed out at the summit that the group of twenty has the responsibility to take the quasi - directional course for the world economy and global governance at the critical moment, enhance confidence in the market and bring hope to the people. We should respect objective laws, give play to the role of the market and meet the requirements of the development of productive forces; We should grasp the general trend of development, embrace development opportunities with greater openness, seek mutual benefit and win-win results with better cooperation, and guide economic globalization in the right direction; We should have a common future in mind, based on common interests, focus on long-term development, and strive to achieve lasting peace and prosperity in the world and the people of all countries live and work in peace and contentment. Riyadh, Saudi Arabia, 21 November 2020. The fifteenth summit of the group of twenty leaders continued to spread in the global COVID-19, with the accelerated evolution of the international pattern, the rise of unilateralism and protectionism, and the impact of the global industrial chain and supply chain. President Xi Jinping attended the summit in a video. He pointed out that while doing a good job in normalized epidemic prevention and control, G20 members should make efforts in four aspects: building a global anti epidemic firewall, unblocking the operation of the world economy, giving full play to the driving role of the digital economy and achieving more inclusive development, so as to strive to stabilize and restore the economy. In response to the international order and global governance in the post epidemic era, President Xi Jinping pointed out that the group of twenty should follow the principle of sharing and building together, adhere to multilateralism, uphold openness and tolerance, uphold mutually beneficial cooperation, and persist in keeping pace with the times. The common need to maintain stable development of the world economy gave birth to the G20. Over the past 13 years, the G20 has worked together to push the world economy out of the abyss of recession and onto the track of recovery and growth. Today, the novel coronavirus pneumonia epidemic in the world has been intertwined with the global epidemic in the past century. The world's multipolarization and economic globalization are undergoing profound changes. Countries are interrelated, interdependent and interrelated. The spirit of partnership of solidarity and win-win cooperation is the most valuable asset of the G20 and an inevitable choice for all countries to jointly address global challenges. Facing the new situation and challenges, the G20 should show its strategic vision, carry forward the spirit of partnership, and promote economic globalization in the direction of openness, inclusiveness, inclusiveness, balance and win-win results. As president Xi Jinping said, "Although we have different national conditions, different stages of development and different practical challenges, we have the same desire to promote economic growth, the same interests to deal with crisis challenges and the same vision to achieve common development. As long as we adhere to the spirit of partnership in the same boat, we can overcome the rough waves of the world economy and open up a new voyage of future growth." (outlook new era)

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