During the 2nd session of the 19th G20 Summit in Rio de Janeiro, Brazil, President of the People's Republic of China Xi Jinping delivered a compelling speech focusing on building a fair and equitable global governance system.
President Xi highlighted the 16-year journey of the G20, emphasizing the collective efforts to overcome global challenges like the financial crisis, climate change, and the COVID-19 pandemic. He stressed the importance of viewing global development as a shared opportunity and fostering partnerships over rivalries.
Improving Global Economic Governance
Xi advocated for stronger global economic partnerships, enhanced macro policy coordination, and the cultivation of new productive forces to boost the global economy. He emphasized the need for an open and inclusive economic environment, free from corruption and protectionism.
Enhancing Financial Stability
Addressing global financial governance, President Xi called for reforms in international financial institutions like the World Bank and the International Monetary Fund to better represent developing countries. He underscored the importance of financial market stability and the implementation of sustainable finance roadmaps to meet green financing needs.
Promoting Open Trade
Xi stressed the necessity of advancing trade and investment liberalization, reforming the World Trade Organization (WTO), and opposing unilateralism. He highlighted initiatives aimed at creating resilient and stable supply chains, advocating for a multilateral trading system that benefits all.
Advancing Digital Innovation
On digital governance, President Xi emphasized the role of the G20 in leading digital transformation and artificial intelligence (AI) cooperation. He announced plans for upcoming AI conferences to promote inclusive and responsible AI development globally.
Fostering Ecological Sustainability
Xi reiterated China's commitment to the Paris Agreement and global biodiversity frameworks. He called for accelerated energy transitions to clean energy sources and highlighted China's dedication to supporting green infrastructure and sustainable practices worldwide.
Strengthening Global Security
Addressing security governance, President Xi supported the United Nations' role in peaceful crisis resolution. He called for de-escalation in conflicts like Ukraine and Gaza, advocating for humanitarian support and long-term solutions to ensure global peace and stability.
In conclusion, President Xi urged G20 members to renew their commitment to multilateralism and cooperative development, aiming for a prosperous and harmonious global future.
