Global economy: China urges G20 members to help stabilise the world

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Beijing, April 21, 2022 (Xinhua/NAN) In the face of risks and economic challenges, all G20 members should work together to help stabilise the world, Chinese Finance Minister Liu Kun said on Thursday.

Kun made the remarks while addressing the G20 Finance Ministers and Central Bank Governors Meeting held in Washington D.C. both virtually and physically on Thursday.

He urged the G20 members to be committed to improving the international system with the UN at its core and the international order underpinned by international law.

According to him, members should also avoid politicising or weaponising the world economy.

Kun said that the G20 members should establish a sense of community, adopt responsible economic policies and explore innovative momentum to energise global growth.

He called on the G20 members to address the concerns of developing countries through multiple channels and ensure that people’s livelihoods were not impacted negatively.

Kun said that China welcomes all parties to support and participate in the Global Development Initiative, with a view to accelerating the implementation of the UN 2030 Agenda for Sustainable Development.

He said that China would continue to work with all parties to improve the global health governance system and strengthen financing cooperation against the pandemic.

This he said would be done under the framework of the World Health Organisation (WHO) Council to implement the important consensus reached by G20 leaders.

“To promote green and low-carbon development, China supports sharing financial policy experience in response to climate change at the G20 finance track.

“In line with its mandate and relevant principles of the UN framework convention on climate change.’’

As for statements made by some G20 members about the impact of geopolitical factors on the global economy, the Chinese side stressed that China opposes politicising economic issues.

Kun said the G20 should be faithful to its own mandate and ensure that the discussions focus on economic impacts, while taking a comprehensive and balanced approach.