Tag: InternationalNews

  • China taps ice, snow to fuel economic growth

    China taps ice, snow to fuel economic growth

    Tourists are now more willing to pay for leisure and cultural activities related to ice and snow tourism, said Dai Bin, president of the China Tourism Academy, at the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

    Dai said that various new business models are arising from the thriving industry. “Once tourists arrive at their destinations, they look for accommodation, dining options and interactions with locals. What attracts them most is often the unique folk customs and cultural heritage of the region.”

    Harbin, China’s northernmost provincial capital, exemplifies the country’s thriving ice and snow economy. During the eight-day Spring Festival holiday that concluded on Tuesday, Harbin Ice-Snow World attracted over 610,000 visits. This ice theme park, featuring dazzling ice sculptures, saw more than 100,000 visits on Feb. 1, setting a new record for daily attendance compared to previous years.

    In addition to Harbin, various new ice and snow tourism attractions have emerged across Heilongjiang Province. These include the snow-covered forests of Yichun, one of China’s most forested cities, winter birdwatching in Qiqihar, where native red-crowned cranes can be spotted, and aurora viewing in Mohe, near the China-Russia border, according to Qi Bin, deputy director of the Heilongjiang provincial department of culture and tourism.

    Peng Fuwei, an official with the National Development and Reform Commission, China’s top economic planner, said that China has established a dual manufacturing-service model to develop its ice and snow economy. According to Peng, the country can now produce 15 kinds of ice and snow sports equipment, ranging from snowboards to snow-making machines.

    In ice and snow services, Peng said multiple sectors flourish simultaneously, including competitions and performances, catering and accommodation, winter sports training, and leisure tourism.

    Looking ahead, Peng said that the central budget will continue to support the construction of public service facilities for eligible ice and snow sports and tourism. Also, qualifying ice and snow tourism equipment will receive support through ultra-long special treasury bonds for equipment upgrades.

    According to China’s national blueprint for the ice and snow economy, the industry is expected to play a greater role in expanding employment and promoting high-quality development by 2030. Ice and snow consumption will be a key growth driver for domestic demand.

    By then, several high-quality destinations for ice sports and tourism will be established, and the total scale of the ice and snow economy is projected to reach 1.5 trillion yuan (about 209.2 billion U.S. dollars), the document says.

    China is actively tapping into its ice and snow resources to create new growth drivers for the world's second-largest economy
  • China’s winter economy snowballing as sports event, cultural tourism fuel public passion

    China’s winter economy snowballing as sports event, cultural tourism fuel public passion

    During the eight-day-long Spring Festival holiday that ended Tuesday, over 610,000 trips were made to the park. Daily trips on Saturday exceeded 100,000, setting a new record for single-day attendance. Since opening its doors this season, the park has received over 2.66 million visits.

    The ice and snow tourism fervor is not limited to Harbin, but palpable nationwide. With its ambitious plans and growing public enthusiasm, China’s winter economy is poised to become a cornerstone of its cultural and economic landscape, experts noted in the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

    {{Embrace the winter}}

    The increasing popularity of Harbin Ice-Snow World is partly attributed to the city’s upcoming role as the host of the 2025 Asian Winter Games, marking China’s second major winter sports event following the Beijing 2022 Winter Olympics.

    Ai Yu, a senior official of the General Administration of Sport of China, noted that the success of the Beijing 2022 Winter Olympics has reshaped China’s relationship with winter sports, and transformed the landscape of ice and snow activities across the country.

    Public enthusiasm for winter sports has surged, extending far beyond traditional hubs such as Heilongjiang. The trend is now moving southward, westward, and eastward, with activities no longer limited to winter but available year-round, both indoors and outdoors, Ai said.

    Dai Bin, president of the China Tourism Academy, highlighted the role of technology and investment in promoting winter sports, with artificial snow and ice facilities making winter sports accessible even in the warmest regions.

    A survey from the academy showed more than 70 percent of the respondents are willing to engage in winter leisure activities, with over 60 percent planning to maintain or increase their spending on winter tourism. The 2024-2025 winter season is expected to attract some 520 million trips, generating over 630 billion yuan (about 87.87 billion U.S. dollars) in tourism revenue.

    Winter has evolved from a season of dormancy to one of vibrant activities, Dai noted. “In the past, winter meant freezing temperatures and a pause in daily life. Now, people embrace the cold and explore northern regions.”

    {{More than just fun}}

    China’s winter economy is not just about sports and tourism; it’s also driving significant growth in manufacturing and services, experts said.

    Peng Fuwei, a senior official of the National Development and Reform Commission, noted that the industry has formed a “dual-engine” structure, with winter manufacturing and services leading the way.

    “China now produces a comprehensive range of winter sports equipment, from personal gear to high-end snowmaking machines and snow groomers. In 2023, winter equipment sales reached about 22 billion yuan,” he said.

    Related service sectors are also thriving, with winter sports fueling growth in areas like event hosting, catering, accommodation, and training.

    Heilongjiang, for example, has developed cutting-edge technologies like multi-robot ice sculpting and has established itself as a hub for testing and refining automobiles under extreme cold conditions. “Thanks to robotics, our ice sculptures are built faster and more efficiently,” said Qi Bin, deputy director of Heilongjiang’s culture and tourism department.

    New cultural experiences, such as snowfield hot springs and concerts, are also emerging, further enriching the winter tourism ecosystem, Dai observed.

    {{To make the snowball bigger}}

    Seeking to leverage its vast ice and snow resources to drive economic growth, China is doubling down on its commitment to expanding its winter economy, which encompasses sports, culture, equipment, and tourism.

    The sector has already reached a trillion-yuan scale, and the country aims to grow it to 1.2 trillion yuan by 2027 and 1.5 trillion yuan by 2030, according to an official guideline released in 2024.

    To achieve these goals, the government is integrating winter sports and tourism into its national development plans.

    “We will continue to support the industry through policies, funding, and infrastructure development,” Peng said, adding that key regions in places including Heilongjiang and Xinjiang will receive targeted support to become world-class winter sports destinations.

    There are also plans to sustain the momentum of winter sports participation, expand their reach, and integrate sports events with tourism, according to Ai.

    To further tap the industry’s potential, Dai called for extending the winter industry’s value chain. This includes combining winter equipment with personal gear and creating new travel routes, all in a bid to build a robust ecosystem for the winter economy.

    Ultimately, the goal is to make winter sports and tourism an integral part of people’s lives, Dai added. “When people fall in love with winter activities, the foundation for a thriving winter economy will be firmly established.”

    Located in China's northernmost province of Heilongjiang, Harbin Ice-Snow World, a breathtaking ice-themed park known for its dazzling ice sculptures, is now one of China's hottest tourist destinations.
  • Xi expresses confidence in Macao’s new chief executive

    Xi expresses confidence in Macao’s new chief executive

    When meeting with Sam, Xi said the central government will fully support the chief executive and the Macao SAR government in fulfilling their duties.

    Chinese President Xi Jinping meets with Sam Hou Fai, who was just sworn in as the sixth-term chief executive of the Macao Special Administrative Region (SAR), in Macao, south China, Dec. 20, 2024. (Xinhua/Zhai Jianlan)
  • Xi meets new officials of Macao SAR’s executive, legislative, judicial organs

    Xi meets new officials of Macao SAR’s executive, legislative, judicial organs

    Noting that the governance team of the sixth-term Macao SAR government is young and energetic with high morale, Xi expressed confidence that they will bear in mind their oath, fulfill their mission, be accountable to both the country and Macao, and deliver outstanding results that will make the nation, Macao and themselves proud.

    Chinese President Xi Jinping meets with new officials of the executive, legislative and judicial organs of the Macao Special Administrative Region (SAR) in Macao, south China, Dec. 20, 2024. (Xinhua/Yin Bogu)
  • Xi leaves Brasilia after G20 summit, state visit to Brazil

    Xi leaves Brasilia after G20 summit, state visit to Brazil

    Brazilian senior officials bid farewell to Xi at the airport.

    On the way to the airport, representatives of overseas Chinese, Chinese institutions and students waved the national flags of China and Brazil on both sides of the road, congratulating Xi on the complete success of the visit.

    Representatives of overseas Chinese, Chinese institutions and students wave the national flags of China and Brazil on both sides of the road, congratulating Chinese President Xi Jinping on the complete success of his visit, while Xi's motorcade is on its way to the airport in Brasilia, Brazil, Nov. 21, 2024. Xi left Brasilia on Thursday after attending the 19th G20 Leaders' Summit and paying a state visit to Brazil. (Xinhua/Wang Tiancong)
    Representatives of overseas Chinese, Chinese institutions and students wave the national flags of China and Brazil on the roadside, congratulating Chinese President Xi Jinping on the complete success of his visit, while Xi's motorcade is on its way to the airport in Brasilia, Brazil, Nov. 21, 2024. Xi left Brasilia on Thursday after attending the 19th G20 Leaders' Summit and paying a state visit to Brazil. (Xinhua/Wang Tiancong)
    Chinese President Xi Jinping's plane prepares to take off in Brasilia, Brazil, Nov. 21, 2024. Xi left Brasilia on Thursday after attending the 19th G20 Leaders' Summit and paying a state visit to Brazil. (Xinhua/Zhai Jianlan)
  • China, Brazil elevate ties to forge shared future

    China, Brazil elevate ties to forge shared future

    The announcement, made during Xi’s state visit to Brazil, was further bolstered by the leaders’ commitment to align the China-proposed Belt and Road Initiative (BRI) with Brazil’s development strategies.

    {{MUSICAL PRELUDE TO FRIENDSHIP}}

    The warmth of China-Brazil relations was on full display during a grand welcoming ceremony hosted by Lula on Wednesday.

    The ceremony featured a deeply touching moment: a Brazilian singer performed the iconic Chinese song My Motherland in the Chinese language.

    It was a reciprocal gesture. When Lula visited China last year, the Chinese side played the Brazilian song Novo Tempo, or A New Time in English, at the welcoming ceremony.

    Both songs carry profound significance in their respective nations. My Motherland, an ode to the Chinese people’s enduring resilience and love for their country, resonates deeply with the Chinese people, while Novo Tempo, with its hopeful lyrics about a brighter future, symbolizes Brazil’s aspirations for progress and renewal even in difficult times.

    The choice of the two songs underscores a deep understanding between the two countries: they recognize and honor what each holds most dear.

    During his meeting with Lula, Xi said he was deeply touched by the great importance Lula attaches to the China-Brazil relations and his deep friendship toward the Chinese people, as reflected by the grand welcoming ceremony of the highest courtesy accorded to Xi.

    Brazil and China are good friends that respect and depend on each other, said Lula at the meeting, adding that China is Brazil’s most important strategic partner, and the Chinese people are the most trustworthy friends of the Brazilian people.

    Xi’s visit to Brazil, his fifth to the South American nation, comes as the two major developing countries celebrate five decades of diplomatic relations.

    During the meeting, Xi emphasized the deep ties forged over the past half-century, noting the two sides found a right way for major developing countries to get along with each other, one that is based on mutual respect, mutual benefit, amity and win-win cooperation.

    Brazil holds a unique place in China’s global partnerships. It is the first country to establish a strategic partnership with China. It is also the first nation in Latin America to enter into a comprehensive strategic partnership with China.

    For Julio Bandeira, author of the historical book “Brazil en Route to China,” the Brazilian people have a long history of loving Chinese culture and being close to the Chinese people.

    “Today, the overseas Chinese in Brazil have also made great contributions to the Brazilian economy and society,” he said.

    {{SYNERGIZING DEVELOPMENT STRATEGIES}}

    At the heart of the leaders’ discussions was a commitment to align the BRI with Brazil’s key development strategies. These strategies aim to modernize Brazil’s infrastructure and strengthen regional connectivity, goals that echo the BRI’s mission of enhancing global trade and development through shared infrastructure.

    The two sides should deepen cooperation in priority areas such as economy and trade, finance, science and technology, infrastructure and environmental protection, and strengthen cooperation in emerging fields such as energy transition, the digital economy, artificial intelligence and green mining, Xi said when jointly meeting the press with Lula after their talks.

    Lula, for his part, highlighted plans to focus on expanding and deepening cooperation in areas such as sustainable development, infrastructure, finance, energy transition, and aerospace.

    Concrete projects are already underway. For example, the Belo Monte UHV transmission project, which creates an “electricity expressway” linking north and south of Brazil, has not only provided adequate power to industrial hubs there, but also solved the power shortage problem for over 22 million Brazilians.

    Meanwhile, Brazil’s abundant renewable resources, including hydroelectric, solar, and wind energy, align seamlessly with China’s expertise in clean energy technology and manufacturing.

    Over the past years, Chinese companies have been actively participating in Brazil’s renewable energy sector, particularly in large-scale solar and wind projects, contributing to job creation and technological upgrades in the country.

    In a signed article published in Brazilian media ahead of his visit, Xi called on both countries to “seize the opportunities offered by the times” as the new sci-tech revolution and industrial transformation gather pace.

    “We should foster more exemplary projects that align with the trend of the times and deliver lasting benefits to the people, and contribute to the common development of our countries and regions,” Xi wrote.

    Gleisi Hoffmann, president of Brazil’s Workers’ Party, highlighted the steady growth of economic and trade relations between Brazil and China over the past 50 years. She noted that the partnership has not only met the needs of both nations but also leveraged their respective strengths to create complementary cooperation.

    In recent years, she said, China has achieved remarkable progress in areas such as technology, education, and health. Looking ahead, Hoffmann expressed confidence in the potential to deepen collaboration in these fields, envisioning a future marked by what she described as a “new golden 50 years.”

    China is promoting high-quality development with new quality productive forces, said Mayara Araujo, a researcher from Brazil’s Fluminense Federal University, referring to advanced productivity that features high-tech, high efficiency and high quality.

    Linking Brazil’s development strategies with the BRI will bring more new opportunities to improve and upgrade cooperation between the two countries, said Araujo.

    {{STRENGTHENED VOICE FOR GLOBAL SOUTH}}

    The elevation of China-Brazil ties to a community with a shared future for a more just world and a more sustainable planet came shortly after the 19th G20 Summit held in Rio de Janeiro, Brazil.

    With the theme “Building a just world and a sustainable planet,” this G20 summit offered a vital platform for leaders to address urgent global challenges, including hunger, economic inequity, and climate change.

    After calling on Monday for a just world of common development and a fair and equitable global governance system, Xi on Wednesday called on both countries to step forward for world peace and justice.

    The two sides should practice true multilateralism, speak up and act for justice, and make global governance more just and equitable, Xi said during his meeting with Lula.

    As major developing countries, China and Brazil should take the lead in championing discussion and consultation, promoting global solidarity, and jointly tackling global challenges that affect the future of humanity, Xi added.

    Brazil and China are both committed to expanding the participation of developing countries in the decision-making processes of international organizations, said Evandro Menezes de Carvalho, professor at Brazil’s Getulio Vargas Foundation.

    Moreover, their collaboration within mechanisms such as BRICS demonstrates how they can unite around shared goals and translate that solidarity into concrete actions with substantial impact, said the expert, noting that it is precisely for this reason that an increasing number of developing countries are eager to join these institutions.

    Chinese President Xi Jinping holds talks with his Brazilian counterpart Luiz Inacio Lula da Silva in Brasilia, Brazil, Nov. 20, 2024. (Xinhua/Li Xueren)
    Representatives of overseas Chinese, local Chinese-funded enterprises and Chinese students in Brazil warmly welcome Chinese President Xi Jinping on the roadside while Xi's motorcade is on its way from the airport to the hotel in Brasilia, Brazil, Nov. 19, 2024.  (Xinhua/Xu Rui)
  • InPics: China’s success in combating poverty offers experience to world

    InPics: China’s success in combating poverty offers experience to world

    China launched a monumental anti-poverty campaign on a scale unseen anywhere in the world in recent years.

    In 2021, the country declared a “complete victory” in eradicating absolute poverty, which has lifted 800 million people out of absolute poverty, and met the poverty reduction target of the UN’s 2030 Agenda for Sustainable Development ahead of schedule.

    China’s story is proof that developing countries can eliminate poverty, when there is the endurance, perseverance and striving spirit. If China can make it, other developing countries can make it too. This is what China’s battle against poverty says to the world.

    Women work at a poverty relief workshop of a relocation site in Fugong County of Lisu Autonomous Prefecture of Nujiang, southwest China's Yunnan Province, Nov. 2, 2020. (Xinhua/Hu Chao)
    Tourists ride horses in a lavender field in Sigong Village, Huocheng County, northwest China's Xinjiang Uygur Autonomous Region, July 14, 2023. The lavender planting bases here have helped promote local tourism and increase the income of local people. (Xinhua/Hao Zhao)
    A villager promotes local products via livestreaming at the relocation site for poverty-stricken people in Huawu Village, Qianxi County of Bijie City, southwest China's Guizhou Province, April 13, 2021. (Photo by Fan Hui/Xinhua)
    A child has free lunch at a kindergarten in Congjiang County, Qiandongnan Miao and Dong Autonomous Prefecture, southwest China's Guizhou Province, Sept. 15, 2023. (Photo by Luo Jinglai/Xinhua)
    Farmers pick tea leaves in Lianmeng Village of Pu'an County, southwest China's Guizhou Province, Feb. 23, 2023. Pu'an County has tea gardens with an area of about 125,000 mu (about 8,333.3 hectares). Local farmers have benefited from the tea industry.(Xinhua/Yang Wenbin)
    A tourist takes photos at a tulip plantation in Donghuangtuo Town of Luannan County, north China's Hebei Province, May 3, 2023. Donghuangtuo Town has been developing tulip planting industry so as to boost tourism and help increase the income of local people in recent years.(Xinhua/Yang Shiyao)
    A Fuxing bullet train runs on the Lhasa-Nyingchi railway during a trial operation in Shannan, southwest China's Xizang Autonomous Region, June 16, 2021. (Xinhua/Chogo)
    Medical workers tend to an infant at an intensive care unit (ICU) for infants at People's Hospital of Tongxin County in Wuzhong City, northwest China's Ningxia Hui Autonomous Region, Sept. 18, 2020. Tongxin County has continued to carry out medical assistance to ensure that the poor population has access to basic medical and health services and prevent illness-caused poverty. (Xinhua/Feng Kaihua)
    An aerial drone photo taken on July 24, 2021 shows a view of a relocation site for poverty alleviation in Huawu Village of Xinren Miao Township, Qianxi City, southwest China's Guizhou Province. (Xinhua/Yang Wenbin)
    Zheng Changhao (3nd R), a local poverty alleviation official, leads children with his wife Wu Han (5th L) on a bridge in Wuying Village on the border between south China's Guangxi Zhuang Autonomous Region and southwest China's Guizhou Province, Jan. 30, 2021. (Xinhua/Huang Xiaobang)
  • Xi eyes closer China-Brazil ties, calls for multi-polar world ahead of G20 summit

    Xi eyes closer China-Brazil ties, calls for multi-polar world ahead of G20 summit

    Xi made the remarks in a written statement on Sunday, voicing expectations to have an in-depth exchange of views with Brazilian President Luiz Inacio Lula da Silva on promoting synergy of the two countries’ development strategies, as well as international and regional issues of common interest.

    Looking ahead to the G20 Leaders’ Summit, Xi expressed hope that the G20 would play a greater role as an important platform for international economic cooperation.

    {{HISTORICAL JUNCTURE}}

    As China and Brazil celebrate the 50th anniversary of the establishment of diplomatic ties this year, relations between the two countries stand at an important historical juncture of building on past achievements and forging ahead, Xi said in the written statement.

    Over the past 50 years, China-Brazil relations have withstood the test of a changing international landscape and become increasingly mature and vibrant, Xi said in a signed article published in Brazilian media outlet Folha de S. Paulo on Sunday.

    In recent years, China and Brazil have continued to deepen political mutual trust, yielded fruitful results in practical cooperation, achieved flourishing people-to-people and cultural cooperation, and showed new vitality of the times in the traditional friendship, Xi said.

    The two countries have also jointly made the just voice of the Global South in the international arena and made important contributions to promoting world peace and development, Xi added.

    The dynamic relationship between China and Brazil has not only boosted their respective development but also contributed significantly to world peace and stability, having become a model for major developing countries to develop win-win cooperation and pursue a shared future, Xi said.

    In a world undergoing an accelerating transformation unseen in a century, Xi said the two countries should stay the course of friendly relations, foster new growth drivers for mutually beneficial cooperation, solidify the foundation of people-to-people friendship, strengthen solidarity, support each other and fulfill their responsibilities as major countries.

    “We must work together with others in the Global South to resolutely safeguard the developing nations’ common interests, address global challenges through cooperation, and promote a global governance system that is fairer and more equitable,” he said.

    Xi said he believes his visit will further strengthen the two countries’ strategic mutual trust, deepen exchanges and cooperation in various fields and usher in a new “golden 50 years” for China-Brazil relations.

    {{GREATER ROLE}}

    This year’s G20 Leaders’ Summit, scheduled for Nov. 18-19, marks the first gathering of its kind since the accession of the African Union as a full member, a historic milestone that strengthens the voice of the Global South.

    Envisioning a greater role for G20, Xi said he is ready to work with all parties to discuss plans and seek development, jointly advocate an equal and orderly multi-polar world and a universally beneficial and inclusive economic globalization.

    Javier Miranda, former president of Uruguay’s Broad Front party, expressed his hope that this summit will mark a significant step toward building a multi-polar world — one that fosters dialogue.

    In a world fraught with wars and conflicts, the commitment to dialogue stands as one goal of this G20 meeting, he told Xinhua.

    After taking over the G20 presidency, Brazil has established the summit theme as “Building a Just World and a Sustainable Planet.” Key priorities outlined by the Brazilian government include combating hunger, poverty, and inequality, advancing sustainable development, and driving reforms in global governance.

    To build a just world, the G20 has to honor the principles of mutual respect, equal-footed cooperation and mutual benefit, and support Global South countries in achieving greater development, Xi said in the signed article.

    “Development must be placed at the center of G20 cooperation,” said the Chinese president, noting it is important to press ahead with the reform of the International Monetary Fund, the World Bank and the World Trade Organization and to increase the representation and voice of the Global South.

    To build a sustainable planet, the G20 has to promote sustainable production and lifestyle as a way to achieve harmony between humanity and nature, Xi said.

    Xi also pledged China’s active support for the initiative of a Global Alliance Against Hunger and Poverty proposed by Brazilian President Lula.

    “As we gather at the G20 to address critical global issues such as governance, hunger, sustainability, and the environment, we recognize the crucial role of our partnership with China,” said Rodrigo Castro, deputy secretary for Major Events and Promotion Actions of the Government of the State of Rio de Janeiro.

    Many of the solutions to address challenges faced by developing nations stem from ideas and practices already implemented in China, Castro said. “For us Brazilians who are hosting the G20 … we are very proud to welcome the president and the entire Chinese delegation.”

  • Address by Chinese President Xi Jinping at Session II of 19th G20 Summit

    Address by Chinese President Xi Jinping at Session II of 19th G20 Summit

    {{Following is the English version of the full text of the speech:

    Working Together for a Fair and Equitable Global Governance System

    Remarks by H.E. Xi Jinping, President of the People’s Republic of China On Reform of the Institutions of Global Governance At Session II of the 19th G20 Summit, Rio de Janeiro, November 18, 2024}}

    Your Excellency President Luiz Inacio Lula da Silva,

    Colleagues,

    It has been 16 years since the G20 Summit was launched. Over the years, we have worked in solidarity to tackle the global financial crisis, promoted cooperation on global economy, finance and trade, and steered the world economy onto the track of recovery. We have worked in concert to face global challenges head-on, be it climate change or the COVID-19 pandemic, spearheaded technological transformation, and kept renewing the G20’s responsibilities and missions. We have worked in unison to improve global governance, strengthened macroeconomic policy coordination, pressed ahead with reforming the international financial institutions, and championed international cooperation in the spirit of equal consultation and mutual benefit.

    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. We should 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. We should observe the basic norms of international relations underpinned by the purposes and principles of the UN Charter and defend the international order based on international law. In light of the G20’s mandate, we could build greater international consensus in the economic, financial, trade, digital and eco-environmental fields, among others, to improve global governance and promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization.

    First, we need to improve global economic governance and build a world economy characterized by cooperation. We have developed the G20 comprehensive growth strategies and established a framework for strong, sustainable, balanced and inclusive growth. We should stay committed to strengthening global economic partnerships, reinforcing macro policy coordination in fiscal, financial, monetary and structural reform policies, cultivating new quality productive forces, and raising total factor productivity, in a bid to open up more possibilities for the global economy. 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. As main creditors, international financial institutions and commercial creditors need to take part in debt reduction and suspension for developing countries. It is also important to create a clean business environment by upholding a zero-tolerance stance against corruption, stepping up international cooperation on fugitive repatriation and asset recovery, and denying safe haven to corrupt officials and their assets.

    Second, we need to improve global financial governance and build a world economy characterized by stability. To increase the voice and representation of developing countries, the World Bank should carry out shareholding review and the International Monetary Fund should carry out quota share realignment in line with the agreed timeframe and roadmap. Joint efforts are needed to keep the international financial market stable and prevent negative spillover of domestic monetary policy adjustments. Developed countries should fulfill their responsibilities in this regard. It is important to enhance the systems for financial risks monitoring, early warning and handling, reinforce cooperation in such areas as digital currency and taxation, and strengthen the global financial safety net. The G20 Sustainable Finance Roadmap should be implemented at a faster pace to better meet the green financing needs of developing countries.

    Third, we need to improve global trade governance and build a world economy characterized by openness. We should place development at the center of the international economic and trade agenda, and steadily advance trade and investment liberalization and facilitation. We should press ahead with reforming the World Trade Organization (WTO), oppose unilateralism and protectionism, restore the normal functioning of the dispute settlement mechanism as soon as possible, include the Investment Facilitation for Development Agreement into the WTO legal framework, and reach early consensus on the e-commerce agreement. We should work actively to keep the WTO rules relevant, both addressing long-pending issues and exploring the formulation of new, future-oriented rules, to enhance the authority, efficacy and relevance of the multilateral trading system. It is important to avoid politicizing economic issues, avoid fragmenting the global market, and avoid taking protectionist moves in the name of green and low-carbon development. Two years ago, China and Indonesia, together with some other countries, launched the Initiative of International Cooperation on Resilient and Stable Industrial and Supply Chains, calling for industrial and supply chain partnerships that are more equal, inclusive and constructive. We stand ready for closer cooperation with all sides on this initiative.

    Fourth, we need to improve global digital governance and build a world economy characterized by innovation. We should 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. We should step up international governance and cooperation on artificial intelligence (AI), to make sure that AI is for good and for all, not a game of the rich countries and the wealthy. China hosted the 2024 World AI Conference and High-Level Meeting on Global AI Governance, and issued the Shanghai Declaration on Global AI Governance. Together with other parties, China promoted the adoption of a UN General Assembly resolution on enhancing international cooperation on AI capacity-building. China will hold another world AI conference in 2025 and welcomes the participation of fellow G20 members.

    Fifth, we need to improve global ecological governance and build a world economy characterized by eco-friendliness. We should honor the principle of common but differentiated responsibilities, and fully and effectively implement the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework for the sake of man’s harmonious coexistence with nature. Developed countries should provide developing countries with the necessary funding, technology and capacity-building support. The recently concluded UN Biodiversity Conference produced important consensus. We should jointly support the ongoing and upcoming UN conferences on climate change and desertification in achieving positive outcomes. Energy transition and energy security is a major issue. We should 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, as we 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.

    Global security governance is part and parcel of global governance. The G20 should support the UN and its Security Council in playing a greater role, and support all efforts conducive to the peaceful settlement of crises. To deescalate the Ukraine crisis and seek a political settlement, we should follow the principles of no expansion of the battlefields, no escalation of hostilities and no fanning flames. China and Brazil, together with some other Global South countries, launched the group of “friends for peace” on the Ukraine crisis, with the goal of bringing together more voices for peace. The fighting in Gaza has inflicted deep suffering on the people. It is urgent for all sides to stop fighting, end the war, 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.

    {{Colleagues,}}

    Let us renew our commitment to the founding mission of the G20, and make a fresh start from Rio de Janeiro. Let us carry forward partnership, practice true multilateralism, and usher in a better future of common development and prosperity.

    Thank you.

  • Xi calls for improving global governance during G20 Summit

    Xi calls for improving global governance during G20 Summit

    At Session II of the 19th G20 Summit in Rio de Janeiro on Monday, Chinese President Xi Jinping called for building a world economy characterized by cooperation, stability, openness, innovation, and eco-friendliness.