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Xi Jinping Attends Session I of the 16th G20 Leaders' Summit and Delivers an Important Speech
2021-10-30 20:40

On October 30, 2021, President Xi Jinping attended the 16th G20 Leaders' Summit and delivered an important speech in Beijing via video link.

Xi Jinping pointed out that, today, we are meeting here against the backdrop of a protracted COVID-19 pandemic, fragile economic recovery, acute challenges of climate change, and frequent flare-ups of regional hotspot issues. Faced with changes and a pandemic both unseen in a century, the G20, the premier forum for international economic cooperation, needs to shoulder its due responsibilities, bear in mind the future of humanity and the welfare of the people, uphold openness, inclusiveness and win-win cooperation, practice true multilateralism, and promote the building of a community with a shared future for mankind.

Xi Jinping put forward five suggestions.

First, work in solidarity to combat COVID-19. The international community must work in concert to confront and defeat the pandemic with a science-based approach, step up cooperation on prevention, control, diagnosis and treatment, and enhance preparedness for major public health emergencies. The G20 should play a leading role in building consensus, mobilizing resources, and promoting cooperation.

I would like to propose a Global Vaccine Cooperation Action Initiative: First, we need to strengthen vaccine R&D cooperation and support vaccine companies in conducting joint R&D and production with developing countries. Second, we need to uphold equity and justice, and provide more vaccines to developing countries to meet the global vaccination target for 2022 as set by the World Health Organization (WHO). Third, we need to support the World Trade Organization in making an early decision on waiving intellectual property rights on COVID-19 vaccines, and encourage vaccine companies to transfer technology to developing countries. Fourth, we need to scale up cross-border trade cooperation to ensure smooth trade in vaccines and related raw and auxiliary materials. Fifth, we need to treat different vaccines equally and advance mutual recognition of vaccines in accordance with the WHO's Emergency Use Listing. Sixth, we need to provide financial support for global vaccine cooperation, especially for developing countries to access vaccines.

To date, China has provided over 1.6 billion doses of vaccines to more than 100 countries and international organizations, and will provide over two billion doses to the world in the course of this year. China is conducting joint vaccine production with 16 countries, and has launched an Initiative for Belt and Road Partnership on COVID-19 Vaccines Cooperation together with 30 countries. China is ready to work with all parties to enhance vaccine accessibility and affordability in developing countries and make positive contribution to building a global line of defense through vaccination.

Second, strengthen coordination to promote recovery. We should step up macroeconomic policy coordination and ensure the continuity, consistency and sustainability of our policies. Major economies should adopt responsible macroeconomic policies, avoid negative spillovers on developing countries, and ensure sound operation of the international economic and financial system.

At the same time, we should take a long-term perspective, improve the global economic governance system and rules, faithfully reflect the changes in the international economic landscape and raise the voice of developing countries. China welcomes the International Monetary Fund's decision on the new allocation of Special Drawing Rights, and stands ready to lend the new allocation to low-income countries that are seriously affected by COVID-19.

We should safeguard the multilateral trading system with the WTO at its core, build an open world economy, and protect developing countries' rights, interests and development space. It is imperative to restore, as quickly as possible, the normal operation of the dispute settlement mechanism, and keep the industrial and supply chains safe and stable. China proposes to hold an international forum on resilient and stable industrial and supply chains, and welcomes the active participation of G20 members and relevant international organizations. China is prepared to work with all sides to deliver more fruitful outcomes from high-quality Belt and Road cooperation.

Third, embrace inclusiveness to achieve common development. We must take a people-centered approach and make global development more equitable, effective and inclusive, so that no country will be left behind. The G20 should prioritize development in macro policy coordination, and move forward with the Initiative on Supporting Industrialization in Africa and Least Developed Countries. Advanced economies should fulfill their pledges on official development assistance and provide more resources for developing countries. The Global Development Initiative I proposed at the United Nations is highly compatible with the G20's goal and priority of promoting global development. We welcome the active participation of more countries in the initiative.

Fourth, pursue innovation to tap growth potential. The G20 should join forces to unleash the potential for innovation-driven growth and draw up rules based on extensive participation and broad-based consensus to foster an enabling environment for innovation-driven development. Forming exclusive blocs or even drawing ideological lines will only cause division and create more obstacles, which will do no good but only harm to scientific and technological innovation.

The G20 should shoulder responsibilities in the digital era, quicken the development of new types of digital infrastructure, promote deeper integration of digital technologies with the real economy, and help developing countries eliminate the digital divide. China has put forth the Global Initiative on Data Security. We may discuss and develop international rules for digital governance that reflect the will and respect the interests of all sides, and actively foster an open, fair, just and non-discriminatory environment for digital development. China attaches great importance to international cooperation on digital economy, and has decided to apply to join the Digital Economy Partnership Agreement. China stands ready to work with all parties for the healthy and orderly development of digital economy.

Fifth, promote harmonious co-existence to achieve green and sustainable development. The G20 needs to uphold the principle of common but differentiated responsibilities, push for the full implementation of the Paris Agreement on climate change, and support a successful COP26 to the United Nations Framework Convention on Climate Change and COP15 to the Convention on Biological Diversity. Developed countries need to lead by example on emissions reduction, fully accommodate the special difficulties and concerns of developing countries, deliver on their commitments of climate financing, and provide technology, capacity-building and other support for developing countries.

China has all along undertaken due international responsibilities commensurate with its national conditions. We have actively advanced the green transition of our economy, and raised the ambition of our climate actions on our own initiative. China will strive to peak its carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. We will honor our words with actions and work with all countries to pursue a path of green, low-carbon and sustainable development.

Xi Jinping pointed out that, as an ancient Chinese philosopher observed, "He who has credibility connects the world." In other words, credibility is the foundation for interactions with the world. China will stay committed to the fundamental state policy of opening-up to unleash the potential of its huge market and enormous domestic demand. We will promote institutional opening-up that covers rules, regulations, management and standards, and step up protection of intellectual property rights. We will continue to foster a business environment that is based on market principles, governed by law and up to international standards, and ensure a fair and equitable market order for both domestic and foreign companies. I am convinced that China's development will bring even greater and new opportunities to the world and inject still more new impetus to the world economy.

In conclusion, Xi Jinping underlined that, to build a community with a shared future for mankind requires persisting efforts of all countries. Although the journey ahead may be long and arduous, with sustained actions, we will eventually reach our destination and embrace a brighter future. Let us work together to dispel the dark clouds of the pandemic at an early date and jointly build an ever better future for all of us.

The Summit was chaired by Mario Draghi, Prime Minister of Italy, which holds the presidency of the G20 this year. Leaders of G20 members, leaders of guest countries and responsible officials of relevant international organizations attended the Summit online and offline.

State Councilor and Foreign Minister Wang Yi attended the Summit in person in Italy as a special representative of President Xi Jinping.

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